EURAUD is approaching our first resistance at 1.5774 (horizontal overlap resistance, 50% Fibonacci retracement, Elliot wave structure) where a strong reaction might occur below this level pushing price down to our major support at 1.5454 (horizontal swing low support, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also approaching its resistance and a reaction off this level might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.