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

Daily Price Outlook

- AUD/USD faces key resistance at $0.6732, with potential gains if it breaks higher.

- The 50-day EMA at $0.6711 serves as a critical level, suggesting a bearish bias.

- RSI at 45 indicates neutral sentiment, with a slight lean toward further downside.

The AUD/USD pair is trading at $0.66843, up 0.35% for the day, as it hovers below the key pivot point of $0.6704. The immediate resistance at $0.6732 is crucial; a break above this level could lead to further gains toward the next resistance levels of $0.6758 and $0.6781.

However, with the price currently below the 50-day Exponential Moving Average (EMA) at $0.6711, there is potential for bearish momentum to reassert itself.

On the downside, immediate support lies at $0.6662, with further support levels at $0.6639 and $0.6617. The RSI is currently at 45, indicating a neutral market sentiment but leaning toward bearish territory as it remains below the midpoint.

This suggests that further downward pressure could build if the pair fails to break above the pivot point.

Traders should be cautious of the 50-day EMA as it represents a critical barrier for any bullish attempts. A move below the immediate support at $0.6662 could trigger selling pressure, potentially driving the price toward $0.6639.

The pivot point at $0.6704 will be a key indicator for future direction, with selling opportunities emerging below this level.

Given the current technical setup, a short position could be considered if the price remains below $0.6704. Traders could target $0.66603 for profit, while placing a stop-loss at $0.67256 to manage risk in case of a bullish breakout.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.67036

Take Profit – 0.66603

Stop Loss – 0.67256

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$433/ -$220

Profit & Loss Per Mini Lot = +$43/ -$22