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

Daily Price Outlook

- Bearish trendline break confirms potential downside.

- RSI remains above oversold levels, allowing for further selling pressure.

- Key support at $0.63855 is the next target if downside momentum persists.

The AUD/USD pair is currently trading around $0.64122, breaking below a critical ascending trendline that had supported the recent bullish structure. This trendline breach, combined with the drop below the 50-hour simple moving average (SMA) at $0.64670, indicates a potential bearish reversal.

The price action has formed a clear bearish engulfing candle, confirming the downward momentum, while the RSI is hovering near 36.73, signaling increasing bearish pressure but not yet oversold.

The break below the ascending trendline and 50-hour SMA signals a potential bearish continuation, with a possible sell entry below $0.64211, targeting the $0.63855 support. A protective stop-loss above $0.64436 helps manage risk in case of a bullish rebound.

Traders should watch for a potential three black crows pattern, signaling continued bearish dominance if the next few candles close lower.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.64211

Take Profit – 0.63855

Stop Loss – 0.64436

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$356/ -$225

Profit & Loss Per Mini Lot = +$35/ -$22