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

Daily Price Outlook

- Recovery hinges on holding $0.60376 and clearing $0.61068.

- RSI hints at early bullish divergence, but no breakout yet.

- EMA structure still favors sellers; caution on upside.

AUD/USD is currently trading at $0.60591, showing early signs of recovery after last week’s steep drop. The pair briefly tested support around $0.59300 before bouncing back above the $0.60376 level, which now serves as a critical short-term pivot.

The bounce coincides with mild bullish divergence on the RSI (currently at 42.27), suggesting a tentative return in buyer interest. However, the broader structure remains fragile. The 50 EMA at $0.62230 continues to slope downward, capping any strong bullish momentum.

From a Fibonacci perspective, the pair is struggling near the 23.6% retracement at $0.60388. A break above $0.61068—the 38.2% retracement—would bolster bullish sentiment and expose higher resistance at $0.61598 and $0.62138.

On the downside, immediate support rests at $0.59821, followed by $0.59307. A breach below those levels could send AUD/USD to test deeper lows near $0.58792.

Traders will want to see a sustained move above $0.61068 to confirm follow-through buying. Until then, any upside moves should be viewed cautiously and within the context of a broader bearish trend.

The RSI still hovers below the midline, while the EMA structure favors bears, leaving the recovery in question unless momentum improves decisively above $0.61385.

The risk-reward favors short-term longs above $0.60376, but upside targets should remain conservative unless we see a daily close above $0.61598.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.60376

Take Profit – 0.61385

Stop Loss – 0.59821

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1009/ -$555

Profit & Loss Per Mini Lot = +$100/ -$55