EURAUD approaching support, potential to bounce

EURAUD is approaching its support at 1.5615 (61.8% Fibonacci extension , 50% Fibonacci retracement , L T 23.6% Fibonacci retracement , multiple swing low support) where a reaction could occur and price could potentially rise to its 1st resistance at 1.5807 (50% Fibonacci retracement , horizontal overlap resistance) or if it breaks past this leave, it could rise to its 2nd resistance at 1.5997 (L T 61.8% Fibonacci extension , 100% Fibonacci extension , swing high resistance). We have identified a support area at 1.5497 (61.8% Fibonacci retracement ).

Stochastic (89, 5, 3) shows it approaching its major support at 1.418% and its 1st support at 9.11% where a corresponding bounce could occur.