AUDUSD 5 Jun 2024 On the weekly timeframe, AUDUSD is seen still inside the kumo cloud and is currently at a price position of 0.66589. The pair managed to reverse the trend to bullish two weeks ago, but has yet to show significant gains that could take it out of the kumo cloud. When referring to the stochastic indicator, AUDUSD has been in an oversaturated zone and is starting to appear to decline from the 80 level. This suggests a potential trend reversal or further consolidation before resuming a more significant move. Traders should watch for support levels within the kumo and signals from the stochastic to anticipate further movement.
