EURAUD bounced off support, potential rise!

EURAUD bounced off his support at 1.5444 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) and we expect it to rise further to its resistance at 1.5655 (horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 1.5555 (50% Fibonacci retracement, horizontal overlap resistance).

Stochastic (89, 5, 3) bounced off his support at 14% where a corresponding rise is expected.

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Price has bounced up perfectly and broke past our intermediate resistance :)

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