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

Daily Price Outlook

The AUD/USD pair demonstrates an increased bearish inclination, nearing our projected target of 0.6040. We anticipate sustained downward momentum that might breach the stated level, setting the stage for further declines, potentially towards the 0.6310 mark.

Given these factors, a bearish trajectory is projected for both intraday and short-term intervals, underpinned by the negative influence of the EMA50. It's imperative to note that maintaining a position below 0.6550 is crucial to perpetuate the predicted bearish trend.

Today, the forecasted trading bracket spans from a support at 0.6380 to a resistance at 0.6490.  

AUD/USD - Trade Idea

Entry Price – Sell Below 0.64604

Take Profit – 0.64138

Stop Loss – 0.64920

Risk to Reward – 1: 1.45

Profit & Loss Per Standard Lot = +$466/ -$316

Profit & Loss Per Micro Lot = +$46/ -$31