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

Daily Price Outlook

The AUD/USD pair remains steadfast, maintaining its position above the 0.6400 mark, thus reinforcing the prevailing bullish outlook. The next primary target in sight stands at 0.6545. The current negative trajectory of the Stochastic indicator may temporarily impede upward momentum.

However, we anticipate a shift towards a positive momentum that could bolster the pair towards the aforementioned targets. It's crucial to note that sustaining a position above 0.6400 is pivotal for the continuation of this bullish trajectory. For today, we forecast the pair to trade within a range, with support at 0.6390 and resistance capped at 0.6490.

AUD/USD - Trade Idea 

Entry Price – Buy Limit 0.64095

Take Profit – 0.64499

Stop Loss – 0.63835

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$404/ -$260

Profit & Loss Per Micro Lot = +$40/ -$26