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.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.