Daily Price Outlook

- Gold (XAU/USD) trends upward, trading at $2,251.445 with a pivot point at $2,266.

- Resistance outlined at $2,285, $2,303, and $2,319, with support at $2,249 and below.

- Indicators like RSI (63) and 50 EMA ($2,210) suggest bullish momentum.

The AUD/USD pair on April 2 exhibits slight bearishness, trading at 0.64885, a decrement of 0.01%. The currency pair is currently hovering around a critical pivot point at 0.6498, which may serve as a juncture for potential directional shifts. Resistance levels are established at 0.6515, 0.6539, and 0.6557, marking thresholds where the price may encounter upward pressure. Conversely, support is found at 0.6474, 0.6462, and 0.6443, which could provide a foundation for price stabilization or a rebound.

The technical landscape is shaped by the 50-Day Exponential Moving Average (EMA) at 0.6515 and the Relative Strength Index (RSI) at 37, both of which signal a bearish inclination, corroborated by the prevailing downward trendline and bearish channel observed in the 2-hour timeframe.

In conclusion, the AUD/USD pair presents a bearish outlook below the pivot of 0.6498. Traders may consider a selling strategy below the 0.64979 mark, targeting a profit at 0.64615 while placing a stop loss at 0.65157, paying close attention to the identified technical levels and indicators for any shifts in market dynamics.

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

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.64979

Take Profit – 0.64615

Stop Loss – 0.65157

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$364/ -$178

Profit & Loss Per Mini Lot = +$36/ -$17



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