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

Daily Price Outlook

- Pivot Point Support at $0.69069: The pair’s ability to hold above this level is crucial for maintaining a bullish bias.

- RSI Near Neutral at 48: Momentum is evenly balanced, suggesting no imminent overbought or oversold conditions.

- Resistance at $0.69403 in Focus: A decisive break above this level could propel AUD/USD towards $0.69622 and higher.

The Australian dollar (AUD) continues to edge higher against the U.S. dollar (USD), maintaining a cautious upward trajectory. As of the latest trading session, the AUD/USD pair is trading at $0.69223, marking a slight 0.15% increase.

This recent climb positions the pair above its pivot point at $0.69069, suggesting a potential for further gains if key resistance levels are breached.

Immediate resistance is observed at $0.69403, followed by additional hurdles at $0.69622 and $0.69823. The 50-day Exponential Moving Average (EMA) is currently situated at $0.69140, serving as a critical support area that underpins the current bullish bias.

A sustained hold above this level could reinforce the bullish outlook, encouraging further buying interest.

The Relative Strength Index (RSI) reads 48, signaling neutral momentum with a slight inclination towards the upside. This neutral reading suggests that the market is not yet overbought or oversold, offering room for additional price movement in either direction.

On the downside, immediate support is identified at $0.68886. Should the price break below this level, it could trigger a deeper correction towards $0.68696 and $0.68478, where buyers might step in.

Given the technical setup, a potential buy entry above $0.69069 appears favorable, targeting $0.69406 while maintaining a stop-loss just below immediate support at $0.68886.

The AUD/USD’s recent resilience hints at a measured bullish sentiment, provided it remains above the 50-EMA.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.69069

Take Profit – 0.69406

Stop Loss – 0.68886

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$337/ -$183

Profit & Loss Per Mini Lot = +$33/ -$18