EURAUD Reversed Off Resistance, Prepare For Further Drop

FX:EURAUD   Euro / Australian Dollar
Sell below 1.6168.
Stop loss at 1.6219.
Take profit at 1.6092.
Reason for the trading strategy (technically):
EURAUD reversed off its resistance at 1.6168(100% Fibonacci extension , 76.4% & 50% Fibonacci retracement , horizontal overlap resistance) where it is expected to drop further to its support at 1.6092(50% Fibonacci retracement , horizontal pullback support).
Stochastic (89, 5, 3) reversed off its resistance at 95% where a corresponding drop is expected.


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