Daily Price Outlook

    The AUD/USD pair is demonstrating resilience around the 0.6400 juncture, initiating the session with an ascendant bias. It is attempting to distance itself from this benchmark, gearing up for a potential bullish surge with a tentative target in the vicinity of 0.6545.

    Our analysis postulates a bullish orientation for today, corroborated by auspicious indications from the stochastic oscillator. Transcending the 0.6450 marker could further facilitate this upward trajectory. Conversely, any decline below the 0.6400 level might disrupt this bullish thesis, potentially reverting the pair to its prevailing bearish trend. For the day, we forecast a trading range delineated by a support level at 0.6380 and a resistance point at 0.6480.

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

    AUD/USD - Trade Idea

    Entry Price – Buy Above 0.64058

    Take Profit – 0.64876

    Stop Loss – 0.63575

    Risk to Reward – 1: 1.7

    Profit & Loss Per Standard Lot = +$818/ -$483

    Profit & Loss Per Micro Lot = +$81/ -$48



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