easyMarkets
Long

EURAUD approaching support, potential bounce!

FX:EURAUD   Euro / Australian Dollar
EURAUD is approaching our first support at 1.5880 (horizontal pullback support, 61.8% fibonacci extension , 50% fibonacci retracement , ascending channel’s support) where a strong bounce might occur pushing price up to our major resistance at 1.6183 (horizontal pullback resistance, 50% Fibonacci retracement ).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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