FX.co ★ AUD/USD

*Technical Analysis of AUDUSD Chart: Support, Resistance, Volume, RSI & Risk Management* Chart Overview The chart shows AUDUSD on H1 timeframe from Dec 4 to Dec 9. Price actions been fluctuating between key levels with some bullish and bearish moves. Support & Resistance Levels *Resistance:* The price hit a resistance zone around 0.6651 (highlighted in red on the top right). AUDUSD struggled to break above this level, leading to some selling pressure. *Support:* Theres a rising trendline (white line at the bottom) acting as dynamic support. Price bounced off this trendline a couple of times, showing its a strong support level. Volume Indicator Volumes are shown at the bottom of the chart. We saw higher volumes during the initial bullish move. Later, volumes dropped off a bit, indicating less buying/selling pressure. Lower volumes during the recent price moves might suggest a consolidation phase or lack of strong momentum. RSI (Relative Strength Index) RSI(14) is at 56.48, which is kinda mid-range (between 30-70). This indicates AUDUSD is neither oversold nor overbought right now . RSI was higher earlier when the price was pushing up, showing some strength. Now its flattening out.

Predicting Market Moves Based on these indicators: AUDUSD might face resistance at 0.6651 again. If it breaks above with volume, we could see more upside. If it fails to break resistance, expect a pullback towards the dynamic support (white trendline). RSI not being in extreme zones means we might see sideways movement or a slight trend depending on breakout/breakdown. Risk Management. *Stop Loss:* Always set stops! If youre long, place stops below the dynamic support. If short, above resistance. *Position Sizing:* Manage your lot sizes based on your account balance. Dont risk too much per trade. *Risk/Reward Ratio:* Aim for at least 1:2. Dont risk 100 pips for a potential gain of less than 200 pips. In conclusion: Watch for a breakout above 0.6651 for bullish continuation or a breakdown below dynamic support for bearish moves. Keep an eye on volume for confirmation of moves ????. RSI in mid-range suggests no extreme conditions, so trade based on support/resistance.