EURAUD Facing bullish pressure | 2 July 2021

FOREXCOM:EURAUD   Euro / Australian Dollar
EURAUD Facing bullish pressure above ascending trendline support and also graphical overlap support where we have 38.2% Fibonacci retracement . A short-term intraday bounce above our entry at 1.58516 towards -27.2% Fibonacci retracement at 1.59000 could be possible. Technical indicators are showing room for further bullish momentum as well. Prices are approaching support which is in line with horizontal swing low support, 61.8% Fibonacci retracement , and 161.8% Fibonacci extension . Prices might push up towards horizontal overlap resistance in line with 100% Fibonacci extension . If prices push down, prices might take support on horizontal swing low support in line with 100% Fibonacci extension and 161.8% Fibonacci retracement . Stochastics is also approaching 7. 01 levels, potential for a bounce.

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