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

Daily Price Outlook

- AUD/USD faces strong resistance at $0.6860, coinciding with the 50-EMA.

- Immediate support rests at $0.6819, with downside targets at $0.6783.

- RSI at 46 suggests neutral momentum, with potential for near-term recovery.

The Australian Dollar (AUD/USD) has gained 0.32% on the day, trading around $0.68417, reflecting some positive momentum in an otherwise cautious market. The pair is currently moving below the pivot point at $0.6860, with the 50-day Exponential Moving Average (EMA) also aligned at this level, acting as a significant technical barrier.

Immediate resistance stands at $0.6907, which, if breached, could open the door for further gains towards $0.6946 and $0.6983, respectively.

On the downside, immediate support lies at $0.6819, with additional supports at $0.6783 and $0.6744. Traders are carefully monitoring the $0.6860 level, as it serves as both a pivot point and a key resistance zone.

A break above this level would likely invalidate the current bearish setup. The Relative Strength Index (RSI) is currently at 46, signaling neutral momentum with a slight tilt towards oversold conditions, which suggests the possibility of a rebound in the near term.

For traders, a sell limit entry at $0.6860 is advised, with a take-profit target at $0.68189, supported by the immediate downside levels. A stop-loss at $0.68879 would help mitigate risk in case of an upward breakout. Overall, the AUD/USD pair remains vulnerable to downside pressure as long as prices stay below the 50-EMA.

AUD/USD - Trade Ideas

Entry Price – Sell Limit 0.68600

Take Profit – 0.68189

Stop Loss – 0.68879

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$411/ -$279

Profit & Loss Per Mini Lot = +$41/ -$279