AUDUSD 26 Jan 2024 on the Daily timeframe, it looks like this pair is trying to go up and get out of the kumo cloud back towards R2. Had experienced a trend reversal to bearish last month, and managed to reverse the trend again when it touched R1. However, this pair has not been able to show a significant increase, for now this pair is still occupying the price position of 0.65920. If referring to the stochastic indicator, it appears that there will be a crossing between the two moving average lines which indicates that bearish may occur. Therefore go-short could be an option, but if this pair is able to continue the bullish trend that has been initiated, then go-long remains an option.
