EUR/AUD is approaching its support at 1.5651 (100% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap support) where we expect price to rise to its resistance at 1.5773 (100% Fibonacci extension, horizontal pullback resistance).
Stochastic (55, 5, 3) bounced off its support at 4.8%. We have also identified a bullish divergence with price which contributes to our bullish divergence.
EUR/AUD is approaching its support where a bounce is expected.
Buy above 1.5651. Stop loss at 1.5598. Take profit at 1.5773.
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