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

Daily Price Outlook

- Pivot Point Weakness: AUD/USD remains below the $0.66094 pivot, underscoring a bearish sentiment.

- Key Resistance Levels: Immediate resistance is seen at $0.65849, with stronger levels above at $0.66449.

- Support Levels: Key support zones include $0.65420 and $0.65092, with a deeper floor at $0.64730.

The AUD/USD pair is currently trading at $0.65676, down 0.06% on the day, as it remains under pressure below the pivot point at $0.66094. The pair is struggling to gain traction amidst broader market sentiment favoring the U.S. dollar. With an RSI of 42, AUD/USD appears to be in a modestly bearish phase, indicating potential for further downside if selling momentum persists.

Immediate resistance for the pair stands at $0.65849, followed by more significant resistance levels at $0.66449 and $0.66873. A breakout above these levels would need strong buying interest, which is unlikely without supportive economic data or a shift in market sentiment.

On the downside, immediate support is located at $0.65420, with subsequent levels at $0.65092 and $0.64730. Notably, the 50-day Exponential Moving Average (EMA) is positioned at $0.66234, acting as a key barrier above the current price. This EMA level reinforces the bearish outlook, as a sustained move below it could signal continued downside momentum.

For traders, a break below the entry price of $0.65857 could present a selling opportunity, targeting $0.65413 with a stop loss at $0.66106.

The current technical landscape suggests AUD/USD may continue its slide unless it manages to reclaim the $0.66094 pivot level, where a bullish reversal would become more likely. Traders should watch for any decisive moves below $0.65857, as it could validate further downside.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.65857

Take Profit – 0.65413

Stop Loss – 0.66106

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$444/ -$249

Profit & Loss Per Mini Lot = +$44/ -$24