Daily Price Outlook

- AUD/USD declined by 0.46%, hitting $0.64154, signaling a bearish trend in today's market.

- Pivot point stands at $0.6444, with resistance at $0.6488 and support at $0.6408.

- Technical indicators show RSI at 26 and 50-day EMA at $0.6547, indicating potential selling pressure.

In today's AUD/USD technical outlook, the pair declined by 0.46% to reach $0.64154, showcasing a bearish sentiment. The pivot point stands at $0.6444, indicating a critical level for market sentiment. Immediate resistance levels are noted at $0.6488, followed by $0.6527 and $0.6553, while support levels are at $0.6408, $0.6382, and $0.6357. Technical indicators reveal the Relative Strength Index (RSI) at 26, suggesting an oversold condition.

Additionally, the 50-day Exponential Moving Average is positioned at $0.6547, signifying a barrier to upside movement. The presence of a double top pattern near $0.6444 suggests persistent resistance, potentially driving a selling trend. As per the technical analysis, an entry strategy below $0.64436 with a take profit target of $0.63829 and a stop loss at $0.64788 could be considered.

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

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.64436

Take Profit – 0.63829

Stop Loss – 0.64788

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$607/ -$352

Profit & Loss Per Mini Lot = +$60/ -$35



24/7 live support, lightning fast withdrawals, guaranteed safe and reliable trading platforms with a true ECN broker.