FX.co ★ AUD/USD

AUDUSD TECHNICAL ANALYSIS Chart Overview The charts on the hourly timeframe (H1) for AUDUSD, showing price action from Dec 5 to Dec 8. We got candlesticks, some moving averages (red and blue lines), and indicators like RSI and MACD at the bottom. Support & Resistance *Resistance*: Price hit a high around 0.6640-0.6650 and struggled to break through. This zones acting like a cap. *Support*: Theres a rising trendline (blue line below price action) that held price a couple of times. Now price is near 0.6627, a potential support level. Volume Indicator Volumes been decreasing as price moves sideways-ish after the peak. Low volume often means less conviction in the move, so breakout or breakdown could be coming. RSI (Relative Strength Index) RSI(14) is at 44.69, chillin in the neutral zone (below 50). Not oversold (70). If it dips below 30, could signal more downside. If it heads towards 70, might see some strength. MACD MACD lines are negative (-0.00030 and -0.00026), hinting at bearish vibes. Histograms shrinking, suggesting weakening momentum.

Predictions Based on these: If price breaks below 0.6627 support, could see more downside. If it bounces off support and RSI stays neutral-ish, might see a mini rally towards resistance again. Risk Management 1. *Stop Losses*: Set stops below support (like below 0.6620 if long) or above resistance if short. 2. *Position Sizing*: Dont risk too much per trade. Like 1-2% of account balance max. 3. *Dont Chase*: Wait for confirmations. Breakouts or breakdowns with volume spikes are more reliable. Wrapping up, technically AUDUSD looks like its in a bit of a squeeze. Support at 0.6627 is key. RSIs neutral, MACDs bearish. Manage risk tight.