EURAUD approaching resistance, potential drop!

FX:EURAUD   Euro / Australian Dollar
EURAUD is approaching our first resistance at 1.600 (horizontal swing high resistance, 61.8% Fibonacci extension , 50% Fibonacci retracement ) where a strong drop might occur to our major support at 1.5952 (horizontal swing low support, 50% Fibonacci retracement , 100% Fibonacci extension ).
Stochastic (89,5,3) is also approaching resistance.
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