EURAUD approaching resistance, potential drop!

6 באוג׳ 2018

Price is approaching our first resistance at 1.5653 (horizontal overlap resistance, 23.6% Fibonacci retracement) where price might drop to its support at 1.5540 (76.4%, 61.8% Fibonacci retracement , horizontal pullback support). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is seeing a bearish exit and we might see a corresponding drop in price.
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