AUDUSD 15 Aug 2023

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AUDUSD 15 Aug 2023 on H1 timeframe. It can be seen that this pair managed to break S1 after a long enough experience moving sideways in the previous few sessions. It touched 0.65062 and then went back down bearish. If we refer to the stochastic indicator, the bearishness may still continue after being overbought. If the pair continues to fall back through S1 towards S2, then go-short is an option for scalpers. Conversely, if the pair is able to reverse the trend when it touches S1, then go-long could be an option. Keep an eye on market movements and trade with your own risk.

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