Daily Price Outlook

    The AUD/USD pair is currently trading at 0.64087, reflecting its recent price dynamics. Analyzing the 4-hour chart, the pivot point is at 0.6373, serving as a significant reference point for traders and investors.

    Key price levels to watch include immediate resistance at 0.6458, followed by 0.6532 and 0.6617. These levels represent crucial zones where price action may encounter resistance or support.

    On the downside, immediate support can be found at 0.6299, with subsequent support levels at 0.6299 and 0.6212, indicating potential areas for reversals or continuations.

    Turning to technical indicators, the Relative Strength Index (RSI) currently registers at 59.93, suggesting a relatively neutral sentiment. The MACD (Moving Average Convergence Divergence) exhibits a value of 0.00068, with the signal line at 0.00122, indicating minimal bullish momentum.

    One observed chart pattern is the Tweezers top pattern near 0.6420, hinting at the possibility of a selling trend. Traders should keep a close eye on this pattern, as it may influence the pair's direction.

    In conclusion, the overall trend for AUD/USD appears to be bearish, especially below the level of 0.64315. Traders should monitor this critical level for potential trading opportunities in the coming days. The short-term forecast suggests the possibility of testing resistance at 0.6458 and beyond.

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

    AUD/USD - Trade Idea

    Entry Price – Sell Below 0.64342

    Take Profit – 0.63765

    Stop Loss – 0.64752

    Risk to Reward – 1: 1.4

    Profit & Loss Per Standard Lot = +$577/ -$410

    Profit & Loss Per Micro Lot = +$57/ -$41



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