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

Daily Price Outlook

- AUD/USD holds above $0.62606 pivot, struggling for directional momentum.

- Break above $0.63014 may trigger upside towards $0.63303 and beyond.

- Drop below $0.62322 could accelerate selling pressure toward $0.62043.

The Australian Dollar (AUD/USD) is facing downward pressure, trading at $0.62745, down 0.01% over the last 24 hours. The pair remains near its pivot point at $0.62606, struggling to find directional momentum as market participants assess broader macroeconomic trends and U.S. dollar strength.

From a technical standpoint, immediate resistance is located at $0.63014, followed by $0.63303 and $0.63612. A break above $0.63014 could spark further upside, especially if buying pressure builds above the 50-day EMA at $0.62422. A decisive close above $0.63303 would indicate a shift toward bullish sentiment, paving the way for a recovery.

On the downside, immediate support sits at $0.62322, with additional cushions at $0.62043 and $0.61711. A drop below $0.62322 may trigger increased selling pressure, potentially pushing AUD/USD toward the lower supports. If the pair breaks below $0.62043, it could signal a deeper correction.

Traders should watch for a break above $0.63014 to confirm bullish sentiment. However, failure to hold above $0.62606 could shift momentum back in favor of sellers, leading to a potential test of lower support levels.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.62605

Take Profit – 0.63013

Stop Loss – 0.62315

Risk to Reward – 1:1.4

Profit & Loss Per Standard Lot = +$408/ -$290

Profit & Loss Per Mini Lot = +$40/ -$29