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

Daily Price Outlook

- Pivot Level: Holding above $0.64941 favors bullish momentum; failure could lead to a retest of $0.64497.

- Resistance Zones: Key levels to watch are $0.65463 and $0.65958 for potential breakout moves.

- Support Levels: Immediate support at $0.64497, with the 50-day EMA at $0.64805 providing additional strength.

AUD/USD is trading at $0.65108, up 0.05% as modest bullish momentum dominates the 4-hour chart. The pair is currently holding above the pivot point at $0.64941, signaling a constructive tone.

Immediate resistance is at $0.65463, with additional targets at $0.65958 and $0.66399 if the upward trend persists. On the downside, immediate support rests at $0.64497, followed by $0.64154 and $0.63763, which could provide a safety net if selling pressure emerges.

The 50-day EMA at $0.64805 reinforces the bullish outlook, acting as a dynamic support level, while the RSI at 62 suggests the pair has room for further upside before entering overbought territory. A successful test and hold above $0.64941 could set the stage for an advance toward $0.65463 in the short term, but a failure to maintain this level might lead to a deeper correction.

Traders may look to initiate long positions near the pivot point at $0.64944, targeting $0.65463 with a stop-loss placed at $0.64513 to manage downside risks effectively. However, caution is warranted as the broader market sentiment remains influenced by global risk factors and economic data releases.

Consider a buy limit at $0.64944, with a take-profit target at $0.65463 and a stop-loss at $0.64513 to capitalize on the bullish potential while managing downside risks.

AUD/USD - Trade Ideas

Entry Price – Buy Limit 0.64944

Take Profit – 0.65463

Stop Loss – 0.64513

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$519/ -$431

Profit & Loss Per Mini Lot = +$51/ -$43