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

Daily Price Outlook

- Price holding trendline and 50 EMA confluence

- Bearish engulfing rejected resistance at $0.64788

- RSI near midline; breakout confirmation needed for bullish continuation

AUD/USD is trading just above its ascending trendline support at $0.64436, attempting to hold its recent bullish structure after forming a series of higher lows throughout early May.

The pair surged from the $0.63737 low, forming a minor ascending channel, and recently printed a bearish engulfing candle after stalling below resistance at $0.64788.

Despite that rejection, price remains supported by both the trendline and the 50-period EMA at $0.64569, with bulls defending this confluence area aggressively.

From a candlestick perspective, the current pause is characterized by a spinning top and long wicks to both sides, suggesting indecision. The RSI, currently at 43.46, shows mild bearish pressure but no divergence.

A move back above the $0.64699 pivot would tilt the structure in favor of another push higher, particularly if accompanied by a bullish engulfing or a breakout candle with volume confirmation.

Should AUD/USD hold above the $0.64436 area and break above the $0.64788 ceiling, the next major resistance lies at $0.64933, followed by $0.65151. Conversely, a break below $0.64436 would expose the pair to downside risks toward $0.64234 and $0.64193.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.64436

Take Profit – 0.64788

Stop Loss – 0.64234

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$352/ -$202

Profit & Loss Per Mini Lot = +$35/ -$20