FX.co ★ Sajidctn | AUD/USD

AUDUSD H4 Chart Technical Analysis: Support, Resistance, Volume, RSI, and Risk Management Let's break down this AUDUSD H4 chart like a pro! We're gonna dive into support and resistance levels, volume indicator, RSI (Relative Strength Index), and how these help predict market moves. Plus, we'll talk risk management coz that's where the smart money's at. Chart Overview The chart's showing AUDUSD on the H4 timeframe from Nov 24 to Dec 12. Price action's been bullish overall, climbing from around 0.6445 to 0.6655. We've got some moving averages (red, blue, white lines) and key levels marked out like 0.6709 (resistance) and 0.6419 (support).

Support and Resistance Levels *Resistance:* 0.6709 (highlighted in yellow). Price hit this level and kinda stalled/started consolidating. If it breaks above, next target could be higher. *Support:* 0.6419 (highlighted in yellow down below). This level's been a floor historically; price bounced from there. Volume Indicator Volume's at 379. Not super high but decent. Volume's gotta confirm trends. Here, it's not screaming "HUGE BUY" or "HUGE SELL" but supports the current trend somewhat. RSI (Relative Strength Index) RSI(14) is at 52.09. This is mid-range, neither oversold (70). Means AUDUSD's not stretched in either direction, could go either way depending on breakout. Predicting Market Moves If price breaks *above 0.6709*, bullish vibes continue. Target next resistance higher. If price dips below *0.6419*, watch out for bears taking over. RSI at 52 suggests no extreme conditions; trend could continue or reverse based on breaks of support/resistance. Risk Management Risk management's KEY: *Stop Loss:* Set stops below support (like 0.6419 for longs) or above resistance for shorts. *Position Sizing:* Don't risk too much per trade. Like 1-2% of account balance per trade. *Risk/Reward Ratio:* Aim for at least 1:2. If risking 10 pips, target 20 pips. Summary AUDUSD H4's bullish but near resistance at 0.6709. RSI's neutral; volume's okay. Support at 0.6419, resistance at 0.6709. Manage risk like a boss with stops and position sizing.