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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/AUD Approaching Support, Prepare For Bounce

EUR/AUD is approaching its support at 1.5897 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1.5977 (50% Fibonacci retracement, horizontal overlap resistance).

Stochastic (55, 5, 3) is nearing its support at 3.2% where a corresponding bounce could occur.

EUR/AUD is approaching its support where we expect to see a bounce.

Buy above 1.5897. Stop loss at 1.5852. Take profit at 1.5977.

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The material has been provided by InstaForex Company - www.instaforex.com