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

Daily Price Outlook

- AUD/USD stays bearish below the pivot at $0.65607, pressured by dollar strength.

- RSI at 30 suggests oversold conditions, but selling momentum remains high.

- Key support at $0.65369; breach could trigger a further decline toward $0.65166.

The AUD/USD pair is trading at $0.65554, down 0.28%, as it faces resistance near the pivot point of $0.65607. This level now serves as a critical marker for directional movement.

Immediate resistance sits just above at $0.65820, with additional barriers at $0.65981 and $0.66197. These levels could curtail short-term upside moves, especially as the pair remains under pressure from a strong US dollar and cautious sentiment around global growth.

On the downside, immediate support lies at $0.65369. Should the price break below this level, it may test the next support at $0.65166, with a further move toward $0.64962 if bearish momentum intensifies.

The Relative Strength Index (RSI) is currently at 30, indicating oversold conditions that could prompt a corrective bounce. However, a continued stay in the oversold region might also reflect persistent selling pressure, leaving the bearish outlook intact.

The 50-day Exponential Moving Average (EMA) is at $0.65879, slightly above the current price. This gap underscores the bearish trend, as the current price remains below both the pivot and key moving averages.

Given these signals, the short-term outlook for AUD/USD remains bearish, with potential for further declines if it stays below the $0.65607 pivot. Traders may consider entering a sell position below $0.65607, with a take-profit target of $0.65344 and a stop-loss at $0.65792 to manage risk.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.65607

Take Profit – 0.65344

Stop Loss – 0.65792

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$263/ -$185

Profit & Loss Per Mini Lot = +$26/ -$18