AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
AUD/USD is under pressure below the pivot point of $0.62450, signaling potential downside risks.
The 50-day EMA at $0.61968 offers critical support for a possible rebound.
Resistance levels at $0.62898 and above may cap any bullish attempts in the short term.
The AUD/USD pair is currently trading at $0.62411, down 0.51%, as the Australian dollar struggles to hold ground amid a stronger U.S. dollar and mixed risk sentiment.
The pair is hovering just below its pivot point at $0.62450, which serves as a key level for short-term market direction.
A decisive move above this threshold could pave the way for a bullish reversal, targeting immediate resistance at $0.62898, with further upside potential at $0.63274 and $0.63591.
On the downside, immediate support is seen at $0.61964, with subsequent levels at $0.61647 and $0.61362, which could act as critical areas to watch in case of further selling pressure.
The 50-day EMA at $0.61968 is providing some underlying support, indicating that bulls may attempt to regain control if the price remains above this level.
From a technical perspective, the recent decline below the pivot point suggests a cautious outlook, with momentum indicators pointing to continued weakness.
A break below the immediate support at $0.61964 could reinforce the bearish trend, potentially driving the pair toward lower support zones.
Conversely, a sustained push above $0.62450 could shift sentiment, allowing buyers to challenge key resistance levels.
In conclusion, a buying opportunity exists above $0.62308, targeting a move toward $0.63006, while a stop-loss at $0.61869 helps mitigate downside risk in case of continued bearish momentum.
AUD/USD - Trade Ideas
Entry Price – Buy Above 0.62308
Take Profit – 0.63006
Stop Loss – 0.61869
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$698/ -$439
Profit & Loss Per Mini Lot = +$69/ -$43
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