EURAUD is testing support, potential bounce!
EURAUD is testing our first support at 1.5871 (horizontal swing low support, 61.8%, 100% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 1.5956 (Horizontal swing high resistance, 50%, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our major support and might be a good precursor for a potential rise in price should it bounce off this level.
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Stochastic (89,5,3) is also approaching our major support and might be a good precursor for a potential rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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