Daily Price Outlook

    The AUD/USD pair starts the day with an upward rally, breaking above the 0.6780 level and indicating a potential return to the bullish trend. This movement is influenced by positive Australian economic data and supported by the stochastic indicator, suggesting a continuation of the bullish bias and aiming to achieve positive targets around 0.6924.

    Therefore, further upward movement is anticipated in the upcoming sessions, unless there is a break below the 0.6780 level and a sustained hold below it.

    For today's trading, the expected range is between the support level at 0.6780 and the resistance level at 0.6890.

    Overall, the trend for today is expected to be bullish, but it is important to monitor the price action for any potential reversals or shifts in market sentiment.

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

    AUD/USD - Trade Idea

    Entry Price – Buy Limit 0.67819

    Take Profit – 0.68930

    Stop Loss – 0.67171

    Risk to Reward – 1: 1.70

    Profit & Loss Per Standard Lot = +$111/ -$64

    Profit & Loss Per Micro Lot = +$11/ -$6



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