EURAUD approaching support, potential bounce!
EURAUD is approaching our first support at 1.5857 (horizontal swing low support, 78.6% Fibonacci retracement) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 1.5967 (horizontal overlap resistance, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is also seeing a bullish divergence and is bouncing off our support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also seeing a bullish divergence and is bouncing off our support where we might see a corresponding rise 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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