EUR/AUD is approaching its support at 1.5888 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1.5972 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is nearing its support at 2.4% where a corresponding bounce could occur.
EUR/AUD is approaching its support where we expect to see a bounce.
Buy above 1.5888. Stop loss at 1.5845. Take profit at 1.5972.
The material has been provided by InstaForex Company – www.instaforex.com