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EURAUD approaching resistance, potential drop!

Short
Euro / Australian Dollar (FX:EURAUD)  
easyMarkets Broker  
FX:EURAUD   Euro / Australian Dollar
Trend Analysis Harmonic Patterns Chart Patterns EURAUD EUR aud euraudlong euraudshort Forex forextrading forexsignals
60
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trendanalysis harmonicpatterns chartpattern euraud eur aud euraudlong euraudshort forex forextrading forexsignals
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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