EURAUD approaching resistance, potential drop!

٦ سبتمبر ٢٠١٨

EURAUD is approaching our first resistance at 1.6243 (horizontal swing high resistance, 100%, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 1.5706 (horizontal overlap support, 78.6%, 61.8% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price.
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