FX.co ★ EURAUD holding above ascending trendline support! Further bounce incoming!

EURAUD holding above ascending trendline support. With technical indicators showing room for further upside, a further push up above our 1st support at 1.58455 towards our 1st resistance at 1.59003 could be possible.

Trading Recommendation

Entry: 1.58455

Reason for Entry:

38.2% Fibonacci retracement, ascending trendline support

Take Profit: 1.59003

Reason for Take Profit:

-27.2% Fibonacci retracement

Stop Loss: 1.58213

Reason for Stop Loss:

78.6% Fibonacci retracement