EURAUD testing support, watch for potential bounce!

٤ يوليو ٢٠١٨

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.
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