EURAUD is testing major support at 1.5772 (long term ascending support line, Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur at this level pushing price all the way up to major resistance at 1.6137 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance). We identified second support at 1.5632 which is right below major 50% retracement and swing low support). Stochastic (55,5,3) is seeing major support above 2.6% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.