Daily Price Outlook

- AUD/USD trading at $0.66583, up 0.24%, shows moderate bullish momentum.

- Immediate resistance levels are $0.6684, $0.6711, and $0.6731.

- Immediate support levels are $0.6638, $0.6617, and $0.6595, critical for maintaining current levels.

The AUD/USD pair is trading at $0.66583, showing a 0.24% increase on the 4-hour chart. The pivot point, marked at $0.6669, is crucial for determining the market direction. Immediate resistance levels are $0.6684, $0.6711, and $0.6731. On the downside, immediate support is identified at $0.6638, followed by $0.6617 and $0.6595.

The Relative Strength Index (RSI) stands at 57, indicating moderate bullish momentum. The 50-day Exponential Moving Average (EMA) is positioned at $0.6654, suggesting that the current price is slightly above this short-term average, reinforcing a bullish outlook.

The outlook for AUD/USD remains slightly bullish above the pivot point of $0.6669. Traders may consider selling below $0.66691, with a take profit target at $0.66371 and a stop loss at $0.66844.

The technical landscape suggests that AUD/USD is experiencing moderate bullish momentum, with the RSI at 57 supporting this outlook. The price above the 50-day EMA at $0.6654 adds to the bullish sentiment.

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

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.66691

Take Profit – 0.66371

Stop Loss – 0.66844

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$320/ -$153

Profit & Loss Per Mini Lot = +$32/ -$15



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