EURAUD is approaching our first support at 1.6167 (horizontal overlap support, 61.8% Fibonacci extension, 50% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.6260 (horizontal overlap resistance, 50% Fibonacci retracement).

Stochastic (89,5,3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.

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