Daily Price Outlook

- Bearish Bias Below $0.62087: Sustained trading below this pivot point suggests further downside toward $0.61324.

- Critical Resistance at $0.62568: A break above this level could trigger a corrective rally toward $0.62922.

- 50-EMA at $0.62432: This dynamic resistance reinforces the prevailing bearish trend.

The AUD/USD pair is trading at $0.61872, down 0.62%, reflecting persistent bearish sentiment as the pair struggles below the key pivot point at $0.62087.

The price action remains under pressure, with the pair facing immediate resistance at $0.62568. A breakout above this level could trigger a corrective rally toward $0.62922, with further gains potentially capped at $0.63235.

On the downside, immediate support is observed at $0.61674. A decisive break below this level may accelerate selling pressure, exposing the next support levels at $0.61324 and $0.60890.

The 50-day Exponential Moving Average (EMA) at $0.62432 reinforces the bearish outlook, acting as a dynamic resistance level. The sustained price action below this moving average indicates that sellers maintain control.

Technical indicators further confirm the downward bias. The Relative Strength Index (RSI) hovers in bearish territory, suggesting the pair is not yet oversold, leaving room for additional downside.

The Moving Average Convergence Divergence (MACD) indicator also signals bearish momentum with a widening gap between the MACD line and the signal line.

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

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.62083

Take Profit – 0.61324

Stop Loss – 0.62572

Risk to Reward – 1:1.5

Profit & Loss Per Standard Lot = +$759/ -$489

Profit & Loss Per Mini Lot = +$75/ -$48

AUD/USD

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