EURAUD approaching support, potential bounce!
EURAUD is approaching our first support at 1.5740 (horizontal overlap support, 61.8% Fibonacci extension, 78.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.6048 (horizontal pullback resistance, 50% Fibonacci extension).
Stochastic (89,5,3) is also approaching support we might see a corresponding 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.
Stochastic (89,5,3) is also approaching support we might see a corresponding 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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