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

Daily Price Outlook

- Bearish Sentiment: AUD/USD trades below $0.66097, with pivot point resistance at $0.66544.

- Oversold Signal: RSI at 28 hints at short-term rebound potential, but caution prevails.

- Critical Support: Immediate support at $0.65498; stronger support at $0.65092 if downtrend continues.

The Australian Dollar (AUD/USD) has seen a pullback, currently trading at $0.65649, marking a 0.27% decline. This downward momentum places the pair below key support and moving averages, indicating a bearish outlook in the short term.

Immediate resistance is found at $0.66097, and breaking above this could trigger a mild recovery, potentially guiding prices toward the next resistance levels at $0.66895 and $0.67227.

The pivot point rests at $0.66544, offering a significant threshold that traders will monitor closely. AUD/USD remains below its 50-day EMA, positioned at $0.66527, underscoring the continued bearish pressure.

The Relative Strength Index (RSI) is low at 28, signaling oversold conditions, which may lead to some short-term buying interest. However, the broader trend suggests caution until the pair crosses above the immediate resistance levels.

On the downside, if selling pressure intensifies, the pair could test support at $0.65498, followed by deeper support at $0.65092 and $0.64730. Traders looking to enter long positions might find buying opportunities above $0.65499, with a potential take-profit target near $0.66097 and a stop-loss set at $0.65088 to manage downside risk.

While oversold conditions suggest a possible bounce, the AUD/USD pair’s position below the pivot and 50-day EMA warrants a cautious approach. A decisive move above $0.66097 is necessary to alleviate some bearish sentiment and signal a potential recovery.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.65499

Take Profit – 0.66097

Stop Loss – 0.65088

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$598/ -$411

Profit & Loss Per Mini Lot = +$59/ -$41