AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Immediate Resistance: $0.63375; immediate support at $0.61720.
- RSI Oversold: At 25, indicating limited downside but weak recovery prospects.
- 50 EMA: At $0.65234, signaling a persistent bearish trend.
The AUD/USD pair is trading at $0.62204, marking a modest gain of 0.07% in the current session. Despite the uptick, the pair remains under bearish pressure, trading below its pivot point at $0.62746.
Immediate resistance is seen at $0.63375, with additional hurdles at $0.63899 and $0.64509. On the downside, immediate support lies at $0.61720, followed by $0.61232 and $0.60746.
Technical indicators suggest further downside risks. The RSI at 25 highlights oversold conditions, implying limited room for additional bearish moves in the short term.
However, the 50 EMA at $0.65234 underscores a broader bearish trend, with the AUD/USD pair struggling to sustain any recovery above key levels.
A failure to reclaim the pivot point at $0.62746 could encourage further selling pressure, targeting the immediate support at $0.61720.
A decisive break below this level might expose the pair to deeper losses toward $0.61232 and $0.60746. On the upside, clearing the pivot and sustaining momentum above $0.63375 would be crucial for a bullish reversal.
Traders may consider a sell limit at $0.62763, targeting $0.61845, with a stop-loss placed at $0.63382.
AUD/USD - Trade Ideas
Entry Price – Sell Limit 0.62763
Take Profit – 0.61845
Stop Loss – 0.63382
Risk to Reward – 1: 1.4
Profit & Loss Per Standard Lot = +$918/ -$619
Profit & Loss Per Mini Lot = +$91/ -$61
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