Daily Price Outlook

- AUD/USD trades slightly down at $0.65802, hovering near the 50 EMA support level at $0.6564.

- Resistance levels to watch are $0.6602, $0.6647, and $0.6691; support solidifies around $0.6467.

- Recommended trade: Buy above $0.65623, targeting $0.66121 with a stop loss at $0.65322 to mitigate risks.

The Australian Dollar (AUD/USD) is experiencing slight downward pressure today, trading at $0.65802, a decrease of 0.01%. The currency pair is currently navigating just above a critical 50-Day Exponential Moving Average (EMA) positioned at $0.6564. This level is noteworthy as it has recently served as a baseline for the pair’s support, suggesting that the AUD/USD could find stability and potentially rebound from these levels.

Looking at the technical framework, the pivot point is set at $0.6612. Immediate resistance lies slightly lower at $0.6602, which the pair needs to overcome to aim for higher resistance levels at $0.6647 and $0.6691. On the downside, the immediate support is significantly lower at $0.6504, indicating a potential area where buying interest might resurface. Additional supports are identified at $0.6467, which is notably listed twice, suggesting a strong support zone that could be critical in preventing further declines.

The Relative Strength Index (RSI) of 49 indicates a nearly balanced market dynamic, with neither overbought nor oversold conditions present, providing room for both upside and downside movements. Based on the current market setup and the proximity of the price to the 50 EMA, a cautious buying strategy could be considered. Entering a long position above $0.65623 with a target of $0.66121 and a stop loss at $0.65322 offers a structured approach to capitalize on potential upward movements while managing risk effectively.

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

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.65623

Take Profit – 0.66121

Stop Loss – 0.65322

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$498/ -$301

Profit & Loss Per Mini Lot = +$49/ -$30



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