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

Daily Price Outlook

- Immediate resistance at $0.67576, with potential upside capped at $0.67810 if bullish momentum strengthens.

- Immediate support is at $0.67025, with downside risk toward $0.66828 if selling pressure intensifies.

- RSI at 41 indicates bearish momentum, with further declines likely if the pair fails to hold above support levels.

AUD/USD is currently trading at $0.67130, down 0.19%, as the pair experiences selling pressure following its failure to break key resistance levels. The pivot point stands at $0.67304, with immediate resistance at $0.67576. A move above this could push the pair towards the next resistance levels at $0.67810 and $0.68105. However, current market sentiment appears bearish, suggesting that any rally may struggle to gain traction.

On the downside, immediate support is seen at $0.67025, with deeper support at $0.66828 and $0.66615. If AUD/USD breaks below these levels, it could signal further downside movement. The 50-day EMA at $0.67292 is trending just above current prices, indicating potential resistance on the path to recovery.

The RSI currently sits at 41, suggesting that the pair is in bearish territory. Momentum is skewed to the downside, indicating increased selling pressure. A break below the pivot point at $0.67304 may confirm further declines, with bears likely to target support at $0.66828.

Given the bearish technical signals, traders may consider short positions below $0.67304, with a take-profit target of $0.66908 and a stop-loss at $0.67522.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.67304

Take Profit – 0.66908

Stop Loss – 0.67522

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$396/ -$218

Profit & Loss Per Mini Lot = +$39/ -$21