AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Bearish Bias: AUD/USD remains bearish below the Pivot Point at $0.62854 and the 50 EMA at $0.63443.

- Support Levels: Immediate support at $0.62544, with significant floors at $0.62163 and $0.61848.

- Resistance Levels: Upside resistance at $0.63271, $0.63560, and $0.63921.

AUD/USD is trading at $0.62940, down 0.01%, showing some hesitation below the Pivot Point at $0.62854. The pair is struggling to gain momentum as it remains under the 50-day Exponential Moving Average (EMA) at $0.63443, suggesting a bearish bias in the short term.

Immediate resistance is seen at $0.63271, with stronger hurdles at $0.63560 and $0.63921. A break above $0.62854 could trigger buying interest, pushing the pair towards these resistance levels.

On the downside, support is located at $0.62544, followed by more substantial floors at $0.62163 and $0.61848. A break below $0.62544 would reinforce the bearish outlook, likely leading to a test of the next support at $0.62163.

Should prices continue to fall, the key support at $0.61848 could act as a crucial area for potential buyers to step in.

The technical setup favors a bearish trend as long as AUD/USD trades below the 50 EMA at $0.63443. The 4-hour chart shows a pattern of lower highs and lower lows, highlighting the downward momentum.

The Pivot Point at $0.62854 is a critical level to watch; a break above this could invalidate the bearish bias, leading to a potential recovery towards $0.63271. Conversely, a drop below $0.62544 would confirm the bearish trend, targeting $0.62163.

For traders, the strategy remains to Buy Above $0.62851 with a Take Profit at $0.63277 and a Stop Loss at $0.62540.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.62851

Take Profit – 0.63277

Stop Loss – 0.62540

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$426/ -$311

Profit & Loss Per Mini Lot = +$42/ -$31