EURUSD bounced nicely off its support, potential to rise further

EURUSD bounced nicely off its support at 1.2376 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its 1st resistance at 1.2475 (78.6% Fibonacci retracement) or to its 2nd and 3rd resistance at 1.2491 (100% Fibonacci extension, channel exit potential, 61.8% Fibonacci extension) and 1.2534 (100% Fibonacci extension, horizontal swing high resistance). We have also identified another support at 1.2359 (61.8% Fibonacci retracement).

Stochastic (89, 5, 3) bounced nicely off its support where a corresponding rise could occur.