ICmarkets
Short

EURAUD Approaching Resistance, Potential Reversal!

FX:EURAUD   Euro / Australian Dollar
NZDJPY is approaching its resistance at 1.6144 (horizontal swing high resistance, 50% Fibonacci retracement ) where it could potentially drop to its support at 1.5887 (horizontal swing low support, 38.2% Fibonacci retracement ).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding bounce could occur.
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Great idea! I have the same bearish view on EURAUD, let me know how you think.


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