AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- AUD/USD trades below $0.62428 pivot, reinforcing a bearish outlook.
- 50-day EMA at $0.62668 remains a key resistance level.
- Break below $0.62110 could accelerate losses toward $0.61865.
The AUD/USD pair continues to face downward pressure, trading at $0.62202, below the $0.62428 pivot level. A stronger U.S. dollar and risk-off sentiment have kept the Australian dollar under pressure, limiting any significant recovery attempts.
Technically, the 50-day EMA at $0.62668 is reinforcing resistance, aligning with the immediate resistance at $0.62632. A break above this level could lead to a retest of $0.62927, while further bullish momentum may push prices toward $0.63235.
However, given the prevailing bearish sentiment, upside potential remains limited unless there’s a fundamental shift in market conditions.
On the downside, immediate support stands at $0.62110, with a break below this level exposing AUD/USD to further losses toward $0.61865 and $0.61648. A sustained move below $0.62110 could accelerate selling pressure, with the pair possibly extending losses if risk aversion strengthens.
From a trading perspective, a sell position below $0.62425 aligns with a take profit target at $0.61980 and a stop loss at $0.62687, reflecting the ongoing bearish momentum. The market is currently struggling to gain traction, and without a break above the pivot level, the bearish bias remains intact.
AUD/USD - Trade Ideas
Entry Price – Sell Below 0.62425
Take Profit – 0.61980
Stop Loss – 0.62687
Risk to Reward – 1: 1.7
Profit & Loss Per Standard Lot = +$445/ -$262
Profit & Loss Per Mini Lot = +$44/ -$26
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