EURAUD testing support, watch for potential bounce!
EURAUD is testing our first support at 1.5746 (horizontal pullback support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) which coincides with our short term ascending line. A strong bounce might occur above this level pushing price up to our major resistance at 1.5961 (horizontal overlap resistance, 76.4% Fibonacci retracement).
Stochastic (34,5,3) is also bouncing off our major support and 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 (34,5,3) is also bouncing off our major support and 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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