EURAUD testing support at 1.5795 (100% Fibonacci extension , 50% Fibonacci retracement , L T 23.6% Fibonacci retracement , horizontal overlap support) and could potentially rise to its resistance area between 1.5948 and 1.5978 (61.8% Fibonacci extension , swing high resistance). We have also identified another support at 1.5718 (76.4% Fibonacci retracement , horizontal swing low support).
Stochastic (89,5, 3) shows a corresponding bounce off its support at 4.58% where it has a lot of upside potential.
Support not holding at the moment as Aussie strengthens across the board. Further decline of the EURO could be on tap next week, if so then EURAUD will likely continue to drop.