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AUDCNH 16 may 2023

AUDCNH 16 may 2023 on the H4 timeframe, it can be seen that the pair is ranging within the kumo cloud on the ichimoku indicator, between S1 and R1 in the price range of 4.67992 and 4.62483. When referring to the RSI and Stochastic indicators, there has been a saturation that has caused a bearish trend to occur. If the bearish trend continues, then go-short is the right choice. On the other hand, if the pair is able to reversing the trend, go-long could be an option. Wait for further indications to make a good trade position.

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