AUD/USD Price Analysis – Dec 31, 2024
Daily Price Outlook
The Aussie Dollar (AUD) was quiet against the US Dollar (USD) after China released its December Manufacturing and Non-Manufacturing PMI numbers. China’s official Manufacturing PMI came in at 50.1, down from 50.3 and missed expectations. Non-Manufacturing PMI jumped to 52.2, up from 50.0 and above expectations of 50.2.
As Australia’s largest trading partner, we feel the ripples of China’s economic movements. The weak manufacturing data has us worried about exports, while the bounce in the service and construction sectors is a glimmer of hope.
RBA and Market Sentiment
RBA minutes showed the board is cautiously optimistic on inflation. They reiterated that they will keep rates on hold until inflation is more clearly stable. RBA Governor Michele Bullock said Australia’s labour market is more resilient than other countries so they can delay rate cuts compared to other central banks.
US Dollar Index (DXY) held around 108.00 as expectations of fewer Fed rate cuts in 2025. US Treasury yields fell on Monday with 2-year at 4.24% and 10-year at 4.53%. This left the AUD exposed to external winds and geopolitics.
Geopolitics and Economic Policy
Russia-Ukraine conflict and Middle East tensions added to the risk premium on the AUD. Traders are also worried about President-elect Trump’s policies and tariffs will increase costs. Add to that the Fed’s reluctance to cut rates and we have market uncertainty.
AUD/USD – Technical Analysis
The AUD/USD pair is trading at $0.62160, down 0.07%, reflecting continued bearish sentiment. The pivot point at $0.62433 acts as a critical juncture, with the pair struggling to regain upward momentum.
Immediate resistance lies at $0.62755, followed by $0.63058 and $0.63439, marking key levels for a potential bullish recovery. On the downside, support levels are seen at $0.62004, with deeper protection at $0.61576 and $0.61208.
The 4-hour chart shows the pair trading below its 50 EMA at $0.62257, signaling near-term weakness in the broader downtrend. The Relative Strength Index (RSI) is at 45, reflecting neutral-to-bearish conditions without signaling oversold levels.
A decisive break below the support at $0.62004 could intensify selling pressure, targeting the next critical level at $0.61576. Conversely, a move above $0.62433 would invalidate the bearish setup and may pave the way for a recovery toward $0.62755.
Market sentiment remains cautious as traders weigh concerns over global growth prospects and subdued commodity demand, which often weighs on the Australian dollar.
With thin year-end liquidity, the pair's movement will depend heavily on holding critical support levels while breaking resistance at $0.62433 for bullish momentum to emerge.
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AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Pivot Importance: AUD/USD below $0.62433 reinforces a bearish outlook; reclaiming this level is key for recovery.
- Support Levels: Immediate support at $0.62004, with critical levels at $0.61576 and $0.61208.
- Momentum Signals: RSI at 45 and price below 50 EMA indicate limited bullish momentum in the short term.
The AUD/USD pair is trading at $0.62160, down 0.07%, reflecting continued bearish sentiment. The pivot point at $0.62433 acts as a critical juncture, with the pair struggling to regain upward momentum.
Immediate resistance lies at $0.62755, followed by $0.63058 and $0.63439, marking key levels for a potential bullish recovery. On the downside, support levels are seen at $0.62004, with deeper protection at $0.61576 and $0.61208.
The 4-hour chart shows the pair trading below its 50 EMA at $0.62257, signaling near-term weakness in the broader downtrend. The Relative Strength Index (RSI) is at 45, reflecting neutral-to-bearish conditions without signaling oversold levels.
A decisive break below the support at $0.62004 could intensify selling pressure, targeting the next critical level at $0.61576. Conversely, a move above $0.62433 would invalidate the bearish setup and may pave the way for a recovery toward $0.62755.
Market sentiment remains cautious as traders weigh concerns over global growth prospects and subdued commodity demand, which often weighs on the Australian dollar.
With thin year-end liquidity, the pair's movement will depend heavily on holding critical support levels while breaking resistance at $0.62433 for bullish momentum to emerge.
AUD/USD - Trade Ideas
Entry Price – Sell Below 0.62299
Take Profit – 0.61789
Stop Loss – 0.62634
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$510/ -$335
Profit & Loss Per Mini Lot = +$51/ -$33
AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- AUD/USD remains below $0.62511, signaling bearish potential.
- RSI at 48 indicates neutral sentiment, leaning bearish.
- 50-day EMA at $0.62391 reinforces near-term resistance.
The AUD/USD is trading at $0.62369, up 0.07% in the last session, reflecting cautious market sentiment. The pair remains below the pivot point of $0.62511, signaling potential bearish pressure unless it breaks above this level.
Immediate resistance lies at $0.63068, followed by $0.63420 and $0.63812, which could act as key upside targets if the bullish momentum strengthens. On the downside, support is located at $0.62004, with additional levels at $0.61565 and $0.61090, which could be tested if selling pressure intensifies.
Technical indicators paint a mixed picture. The RSI is at 48, reflecting a neutral sentiment with a slight bearish inclination.
The 50-day Exponential Moving Average (EMA) at $0.62391 is near the current price, providing a dynamic resistance level that aligns with the broader downward bias. A failure to reclaim $0.62511 could result in a deeper pullback toward $0.62004 or lower.
The pair’s price action is likely to hinge on the $0.62511 pivot point. A sustained move above this level would indicate recovery potential, targeting $0.63068, while a rejection may confirm further downside. Traders may consider a sell limit order at $0.62518, targeting $0.62008, with a stop loss at $0.62853 to manage risk effectively.
AUD/USD - Trade Ideas
Entry Price – Sell Limit 0.62518
Take Profit – 0.62008
Stop Loss – 0.62853
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$510/ -$335
Profit & Loss Per Mini Lot = +$51/ -$33
AUD/USD Price Analysis – Dec 26, 2024
Daily Price Outlook
During the European trading session, the AUD/USD pair struggled for the second day in a row on Thursday, weighed down by a stronger US Dollar and the Reserve Bank of Australia's (RBA) December meeting minutes.
The US Dollar bounced back after a steep decline, as Federal Reserve officials hinted at fewer rate cuts next year, pointing to a slowdown in easing inflation. This recovery pushed the dollar close to a two-year high, putting pressure on the Aussie and other Asian currencies.
US Economic Data and Fed's Stance Strengthen US Dollar, Weighing on AUD/USD Pair
On the US front, the broad-based US Dollar rebounded after a sharp sell-off, as Federal Reserve officials signaled fewer interest rate cuts next year due to a slowdown in the disinflation process. However, soft US PCE data have kept inflation concerns in check, leading to a mixed economic outlook.
According to the CME FedWatch tool, markets now expect a nearly 93% chance that the Federal Reserve will keep interest rates unchanged in January, maintaining the current range of 4.25%-4.50%.
US Durable Goods Orders for November came in weaker than expected, falling by 1.1% compared to the forecasted 0.4% drop. This follows an upward revision in October, which saw a 0.8% increase, up from an initial 0.2% gain.
Meanwhile, US Consumer Confidence dropped 8.1 points in December to 104.7, signaling that the earlier rebound in consumer confidence was not sustained.
Concerns over President-elect Trump’s economic policies, particularly around tariffs, have added to household worries about rising living costs.
These concerns were further reflected in the Federal Open Market Committee's projections, which suggested fewer rate cuts in 2025 due to persistent inflation pressures.
Cleveland Fed President Beth Hammack noted that she prefers to keep interest rates steady until there is more evidence of inflation heading back to the Fed’s 2% target.
Meanwhile, Chicago Fed President Austan Goolsbee revised his forecast for 2025, expecting fewer rate cuts than previously anticipated.
US core PCE inflation rose 2.8% year-over-year, slower than expected, while monthly inflation grew by just 0.1%, showing moderate price increases. This mixed data adds to the pressure on the AUD/USD pair.
Therefore, the mixed US economic data, along with expectations for fewer rate cuts, strengthens the US Dollar, putting downward pressure on the AUD/USD pair.
The market's uncertainty about inflation and interest rates further intensifies bearish sentiment for the Aussie Dollar.
AUD/USD – Technical Analysis
The AUD/USD is trading at $0.62369, up 0.07% in the last session, reflecting cautious market sentiment. The pair remains below the pivot point of $0.62511, signaling potential bearish pressure unless it breaks above this level.
Immediate resistance lies at $0.63068, followed by $0.63420 and $0.63812, which could act as key upside targets if the bullish momentum strengthens. On the downside, support is located at $0.62004, with additional levels at $0.61565 and $0.61090, which could be tested if selling pressure intensifies.
Technical indicators paint a mixed picture. The RSI is at 48, reflecting a neutral sentiment with a slight bearish inclination.
The 50-day Exponential Moving Average (EMA) at $0.62391 is near the current price, providing a dynamic resistance level that aligns with the broader downward bias. A failure to reclaim $0.62511 could result in a deeper pullback toward $0.62004 or lower.
The pair’s price action is likely to hinge on the $0.62511 pivot point. A sustained move above this level would indicate recovery potential, targeting $0.63068, while a rejection may confirm further downside. Traders may consider a sell limit order at $0.62518, targeting $0.62008, with a stop loss at $0.62853 to manage risk effectively.
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AUD/USD Price Analysis – Dec 24, 2024
Daily Price Outlook
During the European trading session, the AUD/USD pair continued its downward slide, staying under pressure near the 0.6237 level and even hitting an intra-day low of 0.6224.
This drop can largely be attributed to the release of the Reserve Bank of Australia’s (RBA) Meeting Minutes for its December policy meeting.
The minutes suggested that the RBA might start cutting rates in February, which has weighed on the Australian dollar.
On top of that, trading activity remained light ahead of the Christmas holiday, adding to the subdued market mood.
Meanwhile, the US dollar made a strong comeback after a sharp sell-off, as Federal Reserve officials hinted at fewer rate cuts next year due to a slower-than-expected decline in inflation.
The rebound in the US dollar played a key role in supporting the downward trend of the AUD/USD pair.
RBA’s Cautious Stance and Strong US Dollar Weigh on AUD/USD
On the AUD front, the release of the Reserve Bank of Australia's (RBA) Meeting Minutes for December’s policy meeting caused the Australian Dollar to weaken against the US Dollar for the second day in a row.
The minutes revealed that the RBA board is now more confident about inflation compared to earlier meetings but acknowledged ongoing risks.
They stressed the importance of keeping monetary policy tight until there’s more certainty that inflation is under control. Meanwhile, trading activity is expected to remain quiet as markets slow down ahead of the Christmas holiday.
The RBA also mentioned that if upcoming data matches or falls below expectations, it could build confidence in inflation trends and support easing policy. However, stronger-than-expected data may require keeping policy restrictive for a longer period.
Governor Michele Bullock pointed to the strong labor market as a key reason why the RBA has taken a slower approach to monetary easing compared to other countries. This cautious stance reflects the need to balance economic growth while managing inflation effectively.
Therefore, the cautious stance of the RBA and the possibility of prolonged restrictive policies, combined with the US Dollar's strength, has pressured the AUD/USD pair. This led to the Australian Dollar weakening for a second consecutive day, reflecting bearish sentiment.
Mixed US Economic Data and Fed's Cautious Stance Weigh on AUD/USD
On the US front, the broad-based US Dollar remained firm as Federal Reserve (Fed) policymakers signaled fewer interest rate cuts next year due to slowing disinflation.
However, soft US PCE inflation data eased some concerns, presenting a mixed economic outlook. The core PCE inflation, the Fed’s preferred measure, rose 2.8% year-over-year, slightly below expectations of 2.9%. Monthly core inflation increased by 0.1%, less than the 0.2% forecast.
According to the CME FedWatch tool, markets see a 93% chance of the Fed holding interest rates steady in January within the 4.25%–4.50% range. Weak US Durable Goods Orders for November, which fell by 1.1% versus the expected 0.4% drop, further signaled economic challenges.
Meanwhile, US Consumer Confidence declined sharply in December, with the index dropping by 8.1 points to 104.7, reflecting uncertainty about the economy.
Concerns about tariffs and inflationary pressures were highlighted, with households expressing worries over the impact of President-elect Trump’s policies.
Fed officials, including Cleveland Fed President Beth Hammack and Chicago Fed President Austan Goolsbee, also hinted at a cautious approach to rate changes, emphasizing the need to monitor inflation closely.
These developments underline the mixed sentiment in the US economy, balancing inflation concerns with weakening economic indicators.
Consequently, the mixed economic outlook in the US, with soft inflation data and weaker consumer confidence, may have limited the US Dollar's strength. However, the Fed's cautious stance on interest rate cuts could still support the US Dollar, putting pressure on the AUD/USD pair.
AUD/USD – Technical Analysis
The AUD/USD pair remains under pressure, trading at $0.62451, a slight decline of 0.03%. The pair is currently hovering near the pivot point of $0.62762, which will play a crucial role in determining the short-term trend.
Immediate resistance is found at $0.63375, with additional resistance levels at $0.63899 and $0.64509. On the downside, immediate support is located at $0.61761, with further critical support at $0.61232 and $0.60746.
The 50-day Exponential Moving Average (EMA) stands at $0.62502, closely aligned with the current price, suggesting consolidation in this range. The Relative Strength Index (RSI) at 49 indicates neutral momentum, with no clear bias toward either direction.
A break above the $0.62762 pivot point could see the pair testing higher resistance levels, while a failure to hold above support may trigger further downside movement, with the next support target at $0.61761.
Traders should be cautious as market volatility remains heightened, particularly during the holiday season with reduced liquidity. A sustained break above $0.62762 could shift the bias towards the upside, while a dip below $0.61761 might lead to further declines toward $0.61232.
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AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- AUD/USD hovers near $0.62451, consolidating around the $0.62762 pivot.
- Immediate resistance at $0.63375 and support at $0.61761.
- RSI at 49 indicates neutral momentum; price action will define direction.
The AUD/USD pair remains under pressure, trading at $0.62451, a slight decline of 0.03%. The pair is currently hovering near the pivot point of $0.62762, which will play a crucial role in determining the short-term trend.
Immediate resistance is found at $0.63375, with additional resistance levels at $0.63899 and $0.64509. On the downside, immediate support is located at $0.61761, with further critical support at $0.61232 and $0.60746.
The 50-day Exponential Moving Average (EMA) stands at $0.62502, closely aligned with the current price, suggesting consolidation in this range. The Relative Strength Index (RSI) at 49 indicates neutral momentum, with no clear bias toward either direction.
A break above the $0.62762 pivot point could see the pair testing higher resistance levels, while a failure to hold above support may trigger further downside movement, with the next support target at $0.61761.
Traders should be cautious as market volatility remains heightened, particularly during the holiday season with reduced liquidity. A sustained break above $0.62762 could shift the bias towards the upside, while a dip below $0.61761 might lead to further declines toward $0.61232.
AUD/USD - Trade Ideas
Entry Price – Sell Limit 0.62753
Take Profit – 0.62753
Stop Loss – 0.63391
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$1000/ -$638
Profit & Loss Per Mini Lot = +$100/ -$63
AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Immediate Resistance: $0.63375; immediate support at $0.61720.
- RSI Oversold: At 25, indicating limited downside but weak recovery prospects.
- 50 EMA: At $0.65234, signaling a persistent bearish trend.
The AUD/USD pair is trading at $0.62204, marking a modest gain of 0.07% in the current session. Despite the uptick, the pair remains under bearish pressure, trading below its pivot point at $0.62746.
Immediate resistance is seen at $0.63375, with additional hurdles at $0.63899 and $0.64509. On the downside, immediate support lies at $0.61720, followed by $0.61232 and $0.60746.
Technical indicators suggest further downside risks. The RSI at 25 highlights oversold conditions, implying limited room for additional bearish moves in the short term.
However, the 50 EMA at $0.65234 underscores a broader bearish trend, with the AUD/USD pair struggling to sustain any recovery above key levels.
A failure to reclaim the pivot point at $0.62746 could encourage further selling pressure, targeting the immediate support at $0.61720.
A decisive break below this level might expose the pair to deeper losses toward $0.61232 and $0.60746. On the upside, clearing the pivot and sustaining momentum above $0.63375 would be crucial for a bullish reversal.
Traders may consider a sell limit at $0.62763, targeting $0.61845, with a stop-loss placed at $0.63382.
AUD/USD - Trade Ideas
Entry Price – Sell Limit 0.62763
Take Profit – 0.61845
Stop Loss – 0.63382
Risk to Reward – 1: 1.4
Profit & Loss Per Standard Lot = +$918/ -$619
Profit & Loss Per Mini Lot = +$91/ -$61
AUD/USD Price Analysis – Dec 19, 2024
Daily Price Outlook
Despite the strong US dollar, the AUD/USD pair managed to maintain its bullish momentum, trading confidently around the 2,617 level and briefly reaching a high of 2,626.
This upward trend was largely supported by Australia's positive Consumer Inflation Expectations report released on Thursday.
However, the Australian dollar faced some challenges due to growing expectations that the Reserve Bank of Australia (RBA) might cut interest rates sooner and more aggressively than previously anticipated.
Meanwhile, the US dollar's strength, fueled by the Federal Reserve's hawkish 25 basis-point rate cut during its December meeting, played a significant role in limiting the AUD/USD pair's gains.
Impact of Rising Inflation Expectations and Global Uncertainties on the AUD/USD Pair
Australia's Consumer Inflation Expectations surged to 4.2% in December, up from 3.8% the previous month, marking the highest level since September. This indicates rising price pressures within the economy.
Despite this, the Australian dollar faces significant challenges due to growing expectations that the Reserve Bank of Australia (RBA) may cut interest rates sooner and more aggressively than initially anticipated.
National Australia Bank (NAB) predicts the first rate cut could occur as early as May 2025, with February also being a possibility.
They forecast the unemployment rate to peak at 4.3% before gradually improving to 4.2% by 2026, while inflation is expected to ease slowly to 2.7% by late 2025.
In addition, Australia’s consumer confidence has taken a hit, with Westpac's Consumer Confidence Index falling by 2% to 92.8 points in December, reversing two months of positive momentum.
This signals growing concerns among households about the economic outlook. Globally, external factors are also exerting pressure on the Australian dollar.
China, Australia’s largest trading partner, has set a growth target of around 5% for 2025. However, uncertainties surrounding the US potentially imposing 10% tariffs on Chinese exports and a record $45.7 billion net outflow from China's capital markets in November have raised concerns about economic stability.
Chinese authorities, under President Xi Jinping, are working to boost the economy by increasing the fiscal deficit and focusing on consumption-driven growth. However, the lack of clear details on fiscal support has added to the uncertainty surrounding the Australian dollar.
Given China's importance to Australia’s trade, these economic uncertainties, combined with cautious signals from the RBA, are weighing on the outlook for the Australian dollar, limiting its gains against the US dollar.
Therefore, the rising inflation expectations in Australia and concerns about potential interest rate cuts by the RBA, combined with global uncertainties like China’s economic challenges, are putting downward pressure on the AUD, limiting its gains against the US dollar in the AUD/USD pair.
AUD/USD – Technical Analysis
The AUD/USD pair is trading at $0.62204, marking a modest gain of 0.07% in the current session. Despite the uptick, the pair remains under bearish pressure, trading below its pivot point at $0.62746.
Immediate resistance is seen at $0.63375, with additional hurdles at $0.63899 and $0.64509. On the downside, immediate support lies at $0.61720, followed by $0.61232 and $0.60746.
Technical indicators suggest further downside risks. The RSI at 25 highlights oversold conditions, implying limited room for additional bearish moves in the short term.
However, the 50 EMA at $0.65234 underscores a broader bearish trend, with the AUD/USD pair struggling to sustain any recovery above key levels.
A failure to reclaim the pivot point at $0.62746 could encourage further selling pressure, targeting the immediate support at $0.61720.
A decisive break below this level might expose the pair to deeper losses toward $0.61232 and $0.60746. On the upside, clearing the pivot and sustaining momentum above $0.63375 would be crucial for a bullish reversal.
Traders may consider a sell limit at $0.62763, targeting $0.61845, with a stop-loss placed at $0.63382.
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AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- AUD/USD remains bearish, trading below the pivot at $0.63619 and the 50 EMA.
- RSI at 36 indicates bearish momentum with oversold signals nearing.
- Entry strategy: Sell Stop $0.63509, Take Profit $0.63171, Stop Loss $0.63800.
The Australian Dollar (AUD/USD) continues to face bearish pressure, trading at $0.63458, down 0.38% for the session. On the 4-hour chart, the pair has slipped below the pivot point at $0.63619, reinforcing near-term downward momentum.
Immediate resistance lies at $0.63823, closely aligned with the 50 EMA at $0.63719, which adds a dynamic ceiling for further recovery. Any sustained move above this level could target the next resistance at $0.64025 and extend gains toward $0.64287.
On the downside, immediate support is observed at $0.63367. A break below this level opens the door for sellers to test further support at $0.63156 and potentially extend declines toward $0.62957.
The Relative Strength Index (RSI) stands at 36, signaling a bearish trend with oversold conditions approaching.
Technical indicators suggest sellers remain firmly in control, with the price trading below both the pivot point and the 50 EMA, highlighting a sustained bearish outlook.
The pair’s inability to reclaim $0.63619 confirms strong selling pressure, with a potential for further downside if the current sentiment persists.
Conclusion: Traders may consider a Sell Stop entry at $0.63509, targeting a take-profit level of $0.63171, with a stop-loss placed at $0.63800 to manage risk.
AUD/USD - Trade Ideas
Entry Price – Sell Stop 0.63509
Take Profit – 0.63171
Stop Loss – 0.63800
Risk to Reward – 1: 1.16
Profit & Loss Per Standard Lot = +$338/ -$291
Profit & Loss Per Mini Lot = +$33/ -$29
AUD/USD Price Analysis – Dec 17, 2024
Daily Price Outlook
During the European trading session, the AUD/USD pair extended its downward trend, struggling to hold ground and slipping to an intra-day low of 0.6337, remaining under pressure near the 0.6340 level.
The pair's decline is largely driven by a bullish US Dollar (USD), which is benefiting from firm expectations that the Federal Reserve (Fed) will signal a more cautious approach to easing monetary policy during its upcoming meeting on Wednesday.
This comes after the Fed is expected to lower interest rates by 25 basis points (bps) to a range of 4.25%-4.50%.
On the other hand, the Australian Dollar remains weak, weighed down by a subdued market sentiment and rising speculation that the Reserve Bank of Australia (RBA) may start cutting its Official Cash Rate (OCR) as early as February.
These factors, combined with the overall risk-averse mood, are keeping the AUD/USD pair under persistent selling pressure. Traders are now closely watching key economic developments and central bank signals for the next directional move.
Australian Dollar Weakens Amid Economic Concerns and Trade Tensions
On the AUD front, the Australian Dollar (AUD) is struggling across the board due to a weak market sentiment and growing concerns that the Reserve Bank of Australia (RBA) might start cutting its key interest rate (Official Cash Rate, or OCR) as early as February.
This has put pressure on the currency, as traders expect further easing of monetary policy. Additionally, a 2% decline in Australia’s Westpac Consumer Confidence for December, following a 5.3% increase in November, has raised concerns about the country's economic outlook.
Furthermore, the AUD is also being weighed down by external factors, particularly concerns about China's economic growth. With US President-elect Donald Trump expected to impose new tariffs on China, the Australian Dollar is feeling the pressure.
This is especially concerning for Australia, as China is its largest trading partner. The combination of internal economic worries and external trade tensions is keeping the AUD under strain and contributing to its ongoing weakness.
AUD/USD – Technical Analysis
The Australian Dollar (AUD/USD) continues to face bearish pressure, trading at $0.63458, down 0.38% for the session. On the 4-hour chart, the pair has slipped below the pivot point at $0.63619, reinforcing near-term downward momentum.
Immediate resistance lies at $0.63823, closely aligned with the 50 EMA at $0.63719, which adds a dynamic ceiling for further recovery. Any sustained move above this level could target the next resistance at $0.64025 and extend gains toward $0.64287.
On the downside, immediate support is observed at $0.63367. A break below this level opens the door for sellers to test further support at $0.63156 and potentially extend declines toward $0.62957.
The Relative Strength Index (RSI) stands at 36, signaling a bearish trend with oversold conditions approaching.
Technical indicators suggest sellers remain firmly in control, with the price trading below both the pivot point and the 50 EMA, highlighting a sustained bearish outlook.
The pair’s inability to reclaim $0.63619 confirms strong selling pressure, with a potential for further downside if the current sentiment persists.
Conclusion: Traders may consider a Sell Stop entry at $0.63509, targeting a take-profit level of $0.63171, with a stop-loss placed at $0.63800 to manage risk.
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