AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Channel Structure Intact: Price respecting the rising channel, targeting 0.6452 short-term.
- Support at 0.6409: Breakout retest level acting as near-term floor.
- RSI Neutral-Bullish: At 61.63, signals moderate upward momentum.
AUD/USD remains in a bullish structure, trading within an ascending channel and holding above the 50-period SMA at 0.6385. The pair recently bounced from a confluence support zone near 0.6409 and is currently attempting another push toward the upper channel boundary around 0.6452.
The technical setup remains constructive as long as price sustains above the 0.6409 breakout level, now acting as immediate support. The RSI stands at 61.63 — neutral to bullish — showing potential for continued upward momentum without being overbought.
A sustained break above 0.6452 could expose the next resistance at 0.6471, while failure to hold above 0.6409 may lead to a drop toward the 0.6387–0.6385 support area.
AUD/USD - Trade Ideas
Entry Price – Buy Above 0.64091
Take Profit – 0.64517
Stop Loss – 0.63875
Risk to Reward – 1: 1.9
Profit & Loss Per Standard Lot = +$426/ -$216
Profit & Loss Per Mini Lot = +$42/ -$21
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