FX.co ★ EUR/AUD Testing Resistance, Prepare For Reversal

EUR/AUD is testing its resistance at 1.5998 (61.8% Fibonacci extension, 61.8 % Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 1.5825 (61.8% Fibonacci retracement, horizontal overlap support) is expected.

Stochastic (55, 5, 3) has reversed off its resistance at 98% where a corresponding drop is expected.

EUR/AUD is testing its resistance where we expect to see a reversal.

Sell below 1.5998. Stop loss at 1.6136. Take profit at 1.5825.