EUR/AUD is approaching its support at 1.5897 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1.5977 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is nearing its support at 3.2% where a corresponding bounce could occur.
EUR/AUD is approaching its support where we expect to see a bounce.
Buy above 1.5897. Stop loss at 1.5852. Take profit at 1.5977.
The material has been provided by InstaForex Company – www.instaforex.com