Daily Price Outlook

- AUD/USD trades at 0.6815, up by 0.04%; pivot point set at 0.6771 with resistance up to 0.6910.

- RSI at 50 suggests a balanced market; MACD near flat, indicating lack of momentum.

- Price close to 50 EMA and supported by an upward trendline; strategy includes buy limit at 0.67986, take profit at 0.68526, and stop loss at 0.67590.

The AUD/USD pair has shown a modest upward movement on Tuesday, trading at 0.6815, reflecting a slight gain of 0.04%. The pair is currently hovering around a pivot point of 0.6771. Looking ahead, key resistance levels are identified at 0.6822, 0.6861, and 0.6910, while immediate support can be found at 0.6732, followed by stronger supports at 0.6683 and 0.6634.

From a technical standpoint, the Relative Strength Index (RSI) sits at a neutral 50, indicating an equilibrium between buyers and sellers. The Moving Average Convergence Divergence (MACD) is almost flat at -0.0006, suggesting a lack of clear directional momentum. Notably, the pair is trading slightly below its 50-Day Exponential Moving Average (EMA) of 0.6819, though the upward trendline support around 0.6793 and recent closing above the 50 EMA suggest potential for an uptrend.

In conclusion, the AUD/USD pair presents a cautiously optimistic scenario. Traders might consider a buy limit at 0.67986, targeting a take profit at 0.68526, with a stop loss placed at 0.67590, while closely monitoring these technical indicators and chart patterns for further market direction.

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

AUD/USD - Trade Ideas

Entry Price – Buy Limit 0.67986

Take Profit – 0.68526

Stop Loss – 0.67590

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$540/ -$396

Profit & Loss Per Mini Lot = +$54/ -$39



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