Daily Price Outlook

- AUD/USD hovers near $0.62451, consolidating around the $0.62762 pivot.

- Immediate resistance at $0.63375 and support at $0.61761.

- RSI at 49 indicates neutral momentum; price action will define direction.

The AUD/USD pair remains under pressure, trading at $0.62451, a slight decline of 0.03%. The pair is currently hovering near the pivot point of $0.62762, which will play a crucial role in determining the short-term trend.

Immediate resistance is found at $0.63375, with additional resistance levels at $0.63899 and $0.64509. On the downside, immediate support is located at $0.61761, with further critical support at $0.61232 and $0.60746.

The 50-day Exponential Moving Average (EMA) stands at $0.62502, closely aligned with the current price, suggesting consolidation in this range. The Relative Strength Index (RSI) at 49 indicates neutral momentum, with no clear bias toward either direction.

A break above the $0.62762 pivot point could see the pair testing higher resistance levels, while a failure to hold above support may trigger further downside movement, with the next support target at $0.61761.

Traders should be cautious as market volatility remains heightened, particularly during the holiday season with reduced liquidity. A sustained break above $0.62762 could shift the bias towards the upside, while a dip below $0.61761 might lead to further declines toward $0.61232.

AUD/USD Price Chart - Source: Tradingview
AUD/USD Price Chart - Source: Tradingview

AUD/USD - Trade Ideas

Entry Price – Sell Limit 0.62753

Take Profit – 0.62753

Stop Loss – 0.63391

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1000/ -$638

Profit & Loss Per Mini Lot = +$100/ -$63

AUD/USD

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