AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Immediate Resistance at $0.6870, with further resistance at $0.6902 and $0.6928.

- Immediate Support at $0.6784, with next levels at $0.6757 and $0.6725.

- RSI stands at 51, indicating neutral market conditions with room for directional shifts.

The Australian dollar (AUD/USD) is currently trading at $0.68304, up 0.25%, as the pair shows a modest recovery during the Asian session. The price remains above its 50-day Exponential Moving Average (EMA) of $0.6811, indicating short-term bullish momentum.

Immediate resistance is seen at $0.6870, just above the pivot point of $0.6869. A break above this level could lead the pair toward the next resistance at $0.6902, and potentially extend to $0.6928 if momentum holds.

On the downside, immediate support is located at $0.6784, with further key levels at $0.6757 and $0.6725.

Technically, the RSI (Relative Strength Index) is positioned at 51, suggesting a neutral stance, with neither overbought nor oversold conditions.

This gives the market room to maneuver in either direction, depending on upcoming catalysts, such as U.S. and Australian economic data releases.

The pair’s trajectory remains cautiously bullish as long as it stays above the 50 EMA. However, the pivot point at $0.6869 will be crucial for further upside. If prices can break above immediate resistance, AUD/USD could see an extension toward the $0.6902 and $0.6928 resistance levels. Conversely, a dip below $0.68084 could shift sentiment toward the downside, with targets near the $0.67798 stop-loss level.

Overall, AUD/USD looks poised for a potential rally above $0.68084, targeting $0.68693, while maintaining a stop-loss at $0.67798 to manage downside risk.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.68084

Take Profit – 0.68693

Stop Loss – 0.67798

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$609/ -$286

Profit & Loss Per Mini Lot = +$60/ -$28