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

Daily Price Outlook

- Testing Key Pivot: AUD/USD is hovering around the $0.67389 pivot point, a critical level for near-term direction.

- Immediate Resistance: A break above $0.67621 and the 50-day EMA at $0.67612 could signal a bullish trend continuation.

- Support Levels: A breach below $0.67108 could expose AUD/USD to deeper supports at $0.66915 and $0.66708.

The Australian Dollar (AUD/USD) is trading at $0.67392, up 0.33%, signaling a potential rebound from recent lows. On the 4-hour chart, the pair is testing the pivot point at $0.67389, which aligns with a minor support level.

If the AUD/USD sustains its position above this level, it could target the immediate resistance at $0.67621, followed by the 50-day Exponential Moving Average (EMA) at $0.67612. A successful breakout above the 50-day EMA would pave the way for further gains toward the next resistance levels at $0.67861 and $0.68105.

Conversely, if the AUD/USD fails to hold above $0.67389, the pair may encounter initial support at $0.67108, followed by deeper support levels at $0.66915 and $0.66708. A breach below $0.66708 would likely signal increased bearish pressure, exposing the pair to further downside risks.

The Relative Strength Index (RSI) stands at 50, indicating neutral market sentiment. This suggests that AUD/USD could move in either direction depending on whether it breaks above or below the current pivot level. With the RSI at equilibrium, traders should watch for a clear breakout above $0.67621 or a breakdown below $0.67108 for directional cues.

Given the current technical setup, buying interest above $0.67223 could drive the pair toward $0.67616, while a failure to maintain above this level may trigger selling pressure.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.67223

Take Profit – 0.67616

Stop Loss – 0.66905

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$397/ -$318

Profit & Loss Per Mini Lot = +$39/ -$31