AUDUSD 6 Dec 2023 on the Daily timeframe. The pair was seen successfully rising through S1 in the middle of last month before dropping back down after briefly occupying the price of 0.66747. Despite falling back towards S1, the pair was able to reverse the trend to initiate bullishness. If referring to the stochastic indicator, the chart still shows a decline towards level 20 allowing a bullish trend to still be possible until it touches S1. If bearish is true then go-short can be an option for traders. If there is oversold after touching S1 and this pair is able to reverse the trend, then go-long is an option. learn many indicators before making trading decisions.
