Daily Price Outlook

- AUD/USD slightly down at 0.65745; pivot point at $0.6516 indicates balance.

- Key resistances at $0.6609, $0.6695; supports at $0.6427, $0.6334.

- RSI at 45 and MACD near zero; suggesting neutral to slight bearish trend.

In the current forex landscape, the AUD/USD pair is showing a marginal decline, trading at 0.65745, down by 0.04%. The pair's technical outlook hinges around the pivot point at $0.6516, which serves as a crucial indicator of the pair's short-term directional bias.

Resistance levels for the AUD/USD are set at $0.6609, $0.6695, and $0.6791. These levels represent potential ceilings where selling pressure might intensify. On the downside, immediate support is found at $0.6427, with further cushions at $0.6334 and $0.6239, acting as safety nets against bearish movements.

The Relative Strength Index (RSI) at 45 suggests a neutral market sentiment. Meanwhile, the Moving Average Convergence Divergence (MACD) stands at 0.0 with its signal line at -0.00027, indicating a possible shift in momentum. The 50-Day Exponential Moving Average (EMA) is currently at $0.6585, slightly above the current market price.

Considering these indicators, the overall trend for the AUD/USD seems to be tilting towards neutrality with a slight bearish inclination. A prudent trading strategy could be to set a sell limit at 0.65970, with a take profit target at 0.65307 and a stop loss at 0.66361, carefully balancing potential risks and rewards.

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

AUD/USD - Trade Ideas

Entry Price – Sell Limit 0.65970

Take Profit – 0.65307

Stop Loss – 0.66361

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$663/ -$391

Profit & Loss Per Mini Lot = +$66/ -$39



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