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

Daily Price Outlook

The AUD/USD pair decisively penetrated the 0.6400 mark, approaching the anticipated initial bearish target of 0.6330. Market projections suggest further downward momentum, with subsequent targets at 0.6270 and then 0.6200.

In the foreseeable future, the bearish outlook is poised to prevail, underscored by its position beneath the EMA50. It's pivotal to note that any sustained breach above 0.6400 could halt this decline, ushering in potential recovery efforts. For today's trading landscape, the AUD/USD is projected to fluctuate between a support level of 0.6280 and a resistance point of 0.6380.

AUD/USD - Trade Idea

Entry Price – Sell Limit 0.63604

Take Profit – 0.62540

Stop Loss – 0.64037

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$858/ -$412

Profit & Loss Per Micro Lot = +$85/ -$41