EUR/USD approaching resistance, potential bounce!

EURUSD is approaching our first support at 1.11744 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where a strong bounce to our first resistance at 1.13369 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) might occur. Stochastic is also approaching support where we might see a bounce above this level.

Analysis are provided by InstaForex