EUR/AUD approaching resistance, potential drop!

EUR/AUD is approaching our first resistance at 1.600 (horizontal swing high resistance, 61.8% Fibonacci extension, 50% Fibonacci retracement) where a strong drop might occur to our major support at 1.5952 (horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension). Stochastic (89,5,3) is also nearing resistance. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.

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