EURAUD is held in a bullish channel where there could be a potential bounce off its support at 1.5637 (23.6% & 38.2% Fibonacci retracement, horizontal swing low support) to its resistance at 1.5807 (61.8% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance). Stochastic (21, 5, 3) has bounced off its intermediate support at 12.8% where a corresponding rise could occur. Ichimoku cloud also shows signs of bullish pressure which contributes to our bullish bias.