Daily Price Outlook

    The AUD/USD pair is currently evaluating the support of its intraday bullish channel and maintaining its position above this line, indicating potential upward movement towards our anticipated target of 0.6345. This outlook is bolstered by the positive indicators from the stochastic oscillator.

    The EMA50 underpins the price, adding further weight to the anticipated uptrend. This bullish perspective will hold unless the price breaks the 0.6400 level and sustains below it at the daily close. Today, we anticipate the trading range to span between a support level of 0.6390 and a resistance point of 0.6490.

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

    AUD/USD - Trade Idea 

    Entry Price – Sell Limit 0.64393

    Take Profit – 0.64001

    Stop Loss – 0.64671

    Risk to Reward – 1: 1.4

    Profit & Loss Per Standard Lot = +$392/ -$278

    Profit & Loss Per Micro Lot = +$392/ -$27



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