EURAUD approaching major resistance, potential reversal!
EURAUD approaching major resistance at 1.6020 (100% Fibonacci extension, 62.8% Fibonacci extension) where a potential reversal might happen which could push price down to its 1st support at 1.5621 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, 50% Fibonacci retracement). We have also identified another resistance at 1.6258 (horizontal swing high resistance)
Stochastic (55, 5, 3) shows it approaching its resistance where a corresponding reaction could occur. We have also identified a bearish divergence versus price which is a good precursor to price falling.
Stochastic (55, 5, 3) shows it approaching its resistance where a corresponding reaction could occur. We have also identified a bearish divergence versus price which is a good precursor to price falling.
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