EURAUD approaching support, potential for further rise!

Price is approaching our first support (horizontal pullback support, 23.6% Fibonacci retracement, 61.8% Fibonacci retracement) where we might see a bounce to our first resistance level at 1.6226 (61.8% Fibonacci retracement).
Ichimoku cloud is also showing signs of bullish pressure in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.