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AUDUSD 10 Nov 2023

AUDUSD 10 Nov 2023 on the Daily timeframe. The pair has been moving sideways for quite some time under the Kumo cloud on the Ichimoku indicator. Ranging between S1 and S2, but the pair is still unable to rise further through S1 and past Kumo. Although it was quite bullish at the end of last month, the pair bounced back down after touching S1 and then bearish. If the bearish continues until it breaks S2, then go-short is still an option for traders. But if the opposite happens, the pair is able to reverse the trend because it has been oversold as shown by the stochastic indicator, then go-long is an option. Keep an eye on volatile market movements before making trading decisions.

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