Daily Price Outlook

    The AUD/USD pair maintains its fluctuation around the 0.6400 level, encountering challenges in achieving a decisive breakthrough. It is worth noting that the stochastic indicator is once again indicating a loss of positive momentum.

    This development is anticipated to contribute to propelling the price towards a successful breach of this level, subsequently extending the decline on both the intraday and short-term scales. It is important to highlight that our next identified target stands at 0.6310.

    Consequently, our outlook continues to lean towards a bearish trajectory for the forthcoming period, provided the price remains stable below the 0.6440 threshold. The projected trading range for the day spans between the support at 0.6350 and the resistance at 0.6450.

    In terms of the anticipated trend for today, a bearish sentiment prevails.

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

    AUD/USD - Trade Idea

    Entry Price – Sell Below 0.64343

    Take Profit – 0.63331

    Stop Loss – 0.65008

    Risk to Reward – 1: 1.5

    Profit & Loss Per Standard Lot = +$1012/ -$665

    Profit & Loss Per Micro Lot = +$101/ -$66



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