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

Daily Price Outlook

- AUD/USD remains bearish below $0.62917, with resistance at $0.63262 and $0.63556.

- Support at $0.62417 is key; a break below could accelerate selling toward $0.62061.

- Sell setup below $0.62915, targeting $0.62417, with stop loss at $0.63255 for risk control.

The AUD/USD pair is trading at $0.62631, down 0.33%, reflecting sustained bearish sentiment amid broader market weakness. The pair remains under pressure below the pivot point at $0.62917, signaling a potential continuation of the downtrend unless buyers regain control.

Immediate resistance stands at $0.63262, followed by $0.63556 and $0.63858, which align with previous price rejections. A breakout above these levels could trigger renewed bullish momentum, potentially shifting sentiment. However, given the current price action, upward movement appears constrained.

On the downside, immediate support is seen at $0.62417, with additional safety nets at $0.62061 and $0.61697. A decisive break below $0.62417 could intensify selling pressure, exposing the pair to further declines.

The 50-day Exponential Moving Average (EMA) at $0.62218 is in close proximity to support, making it a critical level for short-term traders. A bounce from this area may indicate temporary stabilization, but sustained trading below the pivot point at $0.62917 favors the bearish outlook.

From a strategic standpoint, a sell position below $0.62915 is preferred, with a take profit target at $0.62417 and a stop loss at $0.63255 to mitigate risk. Traders should monitor price action near the 50 EMA and support levels to assess potential reversal signs.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.62915

Take Profit – 0.62417

Stop Loss – 0.63255

Risk to Reward – 1:1.4

Profit & Loss Per Standard Lot = +$498/ -$340

Profit & Loss Per Mini Lot = +$49/ -$34