EURAUD approaching resistance, potential drop!

EURAUD is approaching our first resistance at 1.5774 (horizontal overlap resistance, 50% Fibonacci retracement, Elliot wave structure) where a strong reaction might occur below this level pushing price down to our major support at 1.5454 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching its resistance and a reaction off this level might see a corresponding drop in price.
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