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

Daily Price Outlook

- AUD/USD struggles below the $0.62190 pivot, testing $0.61781 support.

- 50 EMA at $0.62228 reinforces resistance, keeping the trend bearish.

- RSI indicates weak momentum; further declines likely if $0.62190 breaks.

AUD/USD is trading at $0.61964, down 0.28%, as bearish sentiment dominates amid global risk-off conditions. The pair is struggling to maintain ground above its pivot point at $0.62190, signaling potential downside risks.

The 50 EMA at $0.62228 has turned into a near-term resistance level, further weighing on the currency pair. The RSI is hovering in bearish territory, reflecting subdued momentum.

Immediate resistance is located at $0.62730, followed by $0.63058 and $0.63393, marking levels to watch for any bullish recovery.

On the downside, immediate support lies at $0.61781, with stronger support at $0.61488 and $0.61208. A sustained move below the pivot point could trigger further selling pressure, targeting the $0.61781 level initially, followed by $0.61530.

Traders considering short positions might look to enter below $0.62172, targeting $0.61530 with a stop-loss at $0.62523.

While the pair remains bearish in the short term, a break above $0.62190 and the 50 EMA could signal a reversal, paving the way for a test of $0.62730.

However, the broader trend remains cautious as the pair reacts to key technical and macroeconomic drivers.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.62172

Take Profit – 0.61530

Stop Loss – 0.62523

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$642/ -$351

Profit & Loss Per Mini Lot = +$64/ -$35