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