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

Daily Price Outlook

- AUD/USD is trading below the 50 EMA, signaling resistance at $0.66622.

- The immediate pivot point is at $0.66509, with key resistance at $0.66682.

- Consider a sell limit at $0.66548 with a take profit at $0.66294.

The AUD/USD pair is trading at $0.66459, marking a 0.19% gain in today's session. The price hovers just below the pivot point at $0.66509, with immediate resistance at $0.66682. Should the pair break above this level, further resistance can be found at $0.66895 and $0.67071. However, if AUD/USD fails to hold its current position, immediate support lies at $0.66302, followed by deeper support levels at $0.66135 and $0.65993.

The technical indicators suggest a cautious outlook. The 50-day Exponential Moving Average (EMA) is at $0.66622, indicating that the pair is slightly below this key technical level, which could cap further upside momentum. Traders will be closely watching to see if the pair can break above the EMA or if downward pressure resumes.

Given the current price action, a sell limit order at $0.66548 might offer an opportunity, with a take-profit target of $0.66294. A stop-loss at $0.66722 would help manage potential risks should the pair break above key resistance levels.

Conclusion: AUD/USD remains below its 50 EMA, with resistance at $0.66682 posing a challenge. A sell limit order at $0.66548 with a target of $0.66294 could capitalize on short-term bearish momentum, though traders should watch for any break above $0.66722 for potential upside risks.

AUD/USD - Trade Ideas

Entry Price – Sell Limit 0.66548

Take Profit – 0.66294

Stop Loss – 0.66722

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$254/ -$174

Profit & Loss Per Mini Lot = +$25/ -$17