EURUSD approaching support, potential bounce!

EURUSD is approaching our first support at 1.234 (horizontal overlap support, 61.8% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 1.2395 (horizontal swing high resistance, 100% Fibonacci extension).

Stochastic (55,5,3) is also seeing a bullish divergence and is approaching our major support where a bounce off this level might be a good precursor for a potential rise in price.

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