Daily Price Outlook

- AUD/USD trades at $0.66443, up 0.12%, with neutral momentum and a 50-day EMA at $0.6648.

- Immediate resistance levels: $0.6699, $0.6735, $0.6771; support levels: $0.6591, $0.6559, $0.6528.

- Entry Price: Buy above $0.66320; Take Profit: $0.67024; Stop Loss: $0.65923 for risk management.

AUD/USD is currently trading at $0.66443, reflecting a modest 0.12% increase on a four-hour chart timeframe. The pivot point is set at $0.6702, serving as a critical marker for potential price movements.

Immediate resistance is identified at $0.6699, with subsequent levels at $0.6735 and $0.6771. On the downside, immediate support is found at $0.6591, followed by $0.6559 and $0.6528.

The Relative Strength Index (RSI) is at 46, indicating neutral momentum, suggesting neither overbought nor oversold conditions. The 50-day Exponential Moving Average (EMA) is positioned at $0.6648, just above the current price, which implies a slight bearish pressure in the short term.

In conclusion, the AUD/USD pair shows potential for bullish movement above $0.66320. Traders are advised to consider buying at or above this level with a target price of $0.67024. A stop loss should be set at $0.65923 to manage potential downside risks.

The current technical indicators and key price levels suggest a cautious but optimistic outlook for buyers, especially if the price stays above the pivot point of $0.6702. However, if the price falls below immediate support at $0.6591, it may signal a shift to a bearish trend, warranting close monitoring of subsequent support levels.

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

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.66320

Take Profit – 0.67024

Stop Loss – 0.65923

Risk to Reward – 1: 7

Profit & Loss Per Standard Lot = +$704/ -$397

Profit & Loss Per Mini Lot = +$70/ -$39



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