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

EURAUD holding above ascending trendline support. With technical indicators showing room for further bullish momentum, a further push up above our 1st support at 1.60894 towards our 1st resistance at 1.62657 could be possible.

Trading Recommendation

Entry: 1.60894

Reason for Entry:

50% Fibonacci retracement, Ascending trendline support

Take Profit: 1.62657

Reason for Take Profit:

61.8% Fibonacci retracement, 61.8% Fibonacci expansion

Stop Loss: 1.59777

Reason for Stop Loss:

Graphical swing low support