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

Daily Price Outlook

- Pivot Importance: AUD/USD below $0.62433 reinforces a bearish outlook; reclaiming this level is key for recovery.

 - Support Levels: Immediate support at $0.62004, with critical levels at $0.61576 and $0.61208.

- Momentum Signals: RSI at 45 and price below 50 EMA indicate limited bullish momentum in the short term.

The AUD/USD pair is trading at $0.62160, down 0.07%, reflecting continued bearish sentiment. The pivot point at $0.62433 acts as a critical juncture, with the pair struggling to regain upward momentum.

Immediate resistance lies at $0.62755, followed by $0.63058 and $0.63439, marking key levels for a potential bullish recovery. On the downside, support levels are seen at $0.62004, with deeper protection at $0.61576 and $0.61208.

The 4-hour chart shows the pair trading below its 50 EMA at $0.62257, signaling near-term weakness in the broader downtrend. The Relative Strength Index (RSI) is at 45, reflecting neutral-to-bearish conditions without signaling oversold levels.

A decisive break below the support at $0.62004 could intensify selling pressure, targeting the next critical level at $0.61576. Conversely, a move above $0.62433 would invalidate the bearish setup and may pave the way for a recovery toward $0.62755.

Market sentiment remains cautious as traders weigh concerns over global growth prospects and subdued commodity demand, which often weighs on the Australian dollar.

With thin year-end liquidity, the pair's movement will depend heavily on holding critical support levels while breaking resistance at $0.62433 for bullish momentum to emerge.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.62299

Take Profit – 0.61789

Stop Loss – 0.62634

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$510/ -$335

Profit & Loss Per Mini Lot = +$51/ -$33