Daily Trade Ideas

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

By LHFX Technical Analysis
Sep 28, 20231 min
Audusd

Daily Price Outlook

    The AUD/USD pair exhibited a distinct downtrend, nearing our initial forecasted target of 0.6330. We project a continued bearish momentum with an aim to reach the subsequent level at 0.6275. This outlook is underpinned by the bearish pressure exerted by the EMA50.

    It's imperative to note that the persistence of this bearish trend hinges on the price maintaining its position below the 0.6400 mark. For today's trading landscape, we anticipate a range between a support level at 0.6300 and a resistance threshold at 0.6400.

    AUD/USD Price Chart – Source: Tradingview
    AUD/USD Price Chart – Source: Tradingview

    AUD/USD - Trade Idea 

    Entry Price – Sell Limit 0.63875

    Take Profit – 0.63300

    Stop Loss – 0.64342

    Risk to Reward – 1: 1.2

    Profit & Loss Per Standard Lot = +$575/ -$467

    Profit & Loss Per Micro Lot = +$57/ -$46

    Please click here to read and acknowledge our Trade Ideas Disclaimer before using these ideas in your strategies and trading. This document’s information, including forex signals and research, is for general informational and educational purposes only and does not provide specific financial, investment, or trading advice.

    AUD/USD

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