Daily Price Outlook

- AUD/USD remains bearish below $0.62829, with key resistance at $0.63087 and $0.63287.

- Support at $0.62465 is critical; a break below could push the pair toward $0.62201 and $0.61875.

- Traders favor selling below $0.62826, targeting $0.62468, with a stop loss at $0.63092.

The AUD/USD pair is trading at $0.62633, slipping 0.05% as the market struggles to find bullish momentum. The pair remains under pressure, trading below the pivot point of $0.62829, signaling a bearish bias in the short term.

The 50-day EMA at $0.63087 serves as immediate resistance, reinforcing downward pressure on the Australian dollar. A break above this level could push the pair toward $0.63287, with further resistance at $0.63650 and $0.64051.

On the downside, immediate support stands at $0.62465. A decisive break below this level could expose the pair to $0.62201, with deeper losses potentially extending to $0.61875. The overall structure remains weak, with sellers controlling price action as risk sentiment continues to weigh on the currency.

For traders, the technical setup suggests a sell position below $0.62826, targeting $0.62468, with a stop loss at $0.63092.

AUD/USD Price Chart - Source: Tradingview
AUD/USD Price Chart - Source: Tradingview

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.62826

Take Profit – 0.62468

Stop Loss – 0.63092

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$358/ -$266

Profit & Loss Per Mini Lot = +$35/ -$26

AUD/USD

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