FX.co ★ EUR/AUD Reversed Nicely Off Resistance, Prepare For A Drop!

EUR/AUD reversed nicely off its resistance at 1.5731 (50% Fibonacci retracement x2, horizontal swing high resistance) where we expect to see a drop to its support at 1.5550 (61.8% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal swing low support).

Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop is expected.

Sell below 1.5731. Stop loss 1.5819. Take profit at 1.5550.