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.