FX.co ★ USD/CAD

The AUDUSD H4 chart shows a clear bullish swing from mid‑November to early December, framed by a Bollinger Bands envelope and supported by volume spikes. Here’s a technical breakdown of the price action and indicators: 1. *Price Movement & Trend*: The pair dropped from around 0.6618 to a low near 0.6500 in early November, forming a base. A reversal followed, pushing the price into a steady uptrend that broke above the middle Bollinger Band and climbed toward the upper band. The current price is near 0.6642, indicating ongoing bullish momentum on the H4 timeframe. 2. *Bollinger Bands*: The bands are expanding, signaling increased volatility as the price moves higher. Price has been riding the upper band, suggesting strong bullish strength. A squeeze appeared in late November before the breakout, hinting at accumulated energy for the upward move. 3. *Candlestick Patterns*: Green bullish candles dominate the ascent, with small red candles appearing only as minor pullbacks. The recent candles show tightening bodies near the highs, indicating consolidation before potential further gains. 4. *Volume Analysis*: Volume spiked sharply around 28 Nov, coinciding with the price surge, confirming strong buying interest. Subsequent volume bars remain green and moderate, supporting the sustained uptrend. Low red volume suggests weak selling pressure during retracements. 5. *Momentum & Potential Next Moves*: The trend is bullish as long as the price stays above the middle Bollinger Band (≈0.6560). Watch for a break above the upper band (≈0.6650) for continuation or a dip below the middle band for a possible reversal. Volume should stay supportive; a sudden volume spike with red candles could warn of a shift. Trading Perspective *Long bias*: Entry on pullbacks to the middle band or on breakouts above recent highs, with volume confirmation. *Risk management*: Set stop‑loss below the lower Bollinger Band (≈0.6500) or recent swing low. *Targets*: Next resistance near 0.6660–0.6680 or the psychological 0.6700 level. Summary The AUDUSD H4 chart displays a robust bullish structure backed by Bollinger Band expansion and supportive volume. The indicators suggest the uptrend remains intact, with momentum favoring further gains provided the price holds above key support levels and volume stays positive.