EURAUD Reversed Nicely Off Resistance, Potential For A Drop!

٨ يونيو ٢٠١٨

EURAUD reversed off its resistance at 1.5515 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap resistance) where price could drop to its support at 1.5289 (horizontal swing low support). We do have to be cautious of the intermediate support at 1.5385 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) has also reversed off its resistance at 95% where a corresponding drop could occur.