EURAUD testing support, potential rise!
EURAUD is testing our first support at 1.6061 (horizontal pullback support, 23.6% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 1.6130 (horizontal overlap resistance, 61.8% Fibonacci extension).
RSI (89) is also seeing a bullish exit and is approaching our short term ascending support line where a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
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RSI (89) is also seeing a bullish exit and is approaching our short term ascending support line where a bounce off this level might be a good precursor for a potential 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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