AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Bearish Trend Below Pivot: AUD/USD remains weak below $0.62640, targeting $0.62213 and $0.61899 as key support levels.
- 50-EMA Resistance: The 50-EMA at $0.62848 reinforces bearish sentiment, making recovery challenging in the near term.
- Trade Setup: Sell below $0.62636, with a take profit target at $0.62217 and a stop loss at $0.62924 to manage risk effectively.
The Australian dollar (AUD/USD) is trading at $0.62517, down 0.63%, as selling pressure continues to dominate. The pair remains below the critical pivot point at $0.62640, suggesting a bearish outlook in the short term.
Immediate support lies at $0.62213, with further downside potential toward $0.61899 and $0.61648 if bearish momentum accelerates.
Resistance on the upside is capped at $0.62998, followed by $0.63302 and $0.63620. For bullish sentiment to regain traction, a decisive break above the pivot and the 50-EMA at $0.62848 is necessary.
However, the broader trend appears bearish, with the 50-EMA reinforcing downside pressure as it acts as a dynamic resistance.
The technical setup suggests continued weakness, particularly as the pair struggles to reclaim the pivot point at $0.62640. Traders are eyeing $0.62213 as a key level; a confirmed break below this support could invite further selling, targeting $0.61899.
Conversely, a bounce above the pivot could see the pair testing resistance levels, contingent on market sentiment and upcoming economic catalysts.
Traders should remain cautious, as the downward trajectory aligns with ongoing concerns over commodity-linked currencies amid fluctuating global risk sentiment.
A break below $0.62636 could confirm bearish continuation, while failure to sustain losses below key supports may lead to temporary relief.
AUD/USD - Trade Ideas
Entry Price – Sell Below 0.62636
Take Profit – 0.62217
Stop Loss – 0.62924
Risk to Reward – 1: 1.3
Profit & Loss Per Standard Lot = +$419/ -$288
Profit & Loss Per Mini Lot = +$41/ -$28
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