EURAUD testing major support, potential for a bounce!
EURAUD testing support at 1.5795 (100% Fibonacci extension , 50% Fibonacci retracement , L T 23.6% Fibonacci retracement , horizontal overlap support) and could potentially rise to its resistance area between 1.5948 and 1.5978 (61.8% Fibonacci extension , swing high resistance). We have also identified another support at 1.5718 (76.4% Fibonacci retracement , horizontal swing low support).
Stochastic (89,5, 3) shows a corresponding bounce off its support at 4.58% where it has a lot of upside potential.
Stochastic (89,5, 3) shows a corresponding bounce off its support at 4.58% where it has a lot of upside potential.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.