FX.co ★ EUR/AUD approaching resistance, potential drop!

EURAUD is approaching our first resistance at 1.6330 where we might be seeing a drop below this level. Stochastic is also seeing a bearish divergence.

Entry: 1.6330

Why it's good : 61.8% Fibonacci extension, 78.6% Fibonacci retracement

Stop Loss : 1.6421

Why it's good : horizontal swing high resistance

Take Profit : 1.6227

Why it's good: Horizontal pullback support, 23.6% Fibonacci retracement