Above 1.1300 level
The EURUSD has moved to a new day high at 1.1313 and in the process is moving further away from its 200 hour MA (green line) and also is feeling more comfortable above the 1.1300 level. The pair is also moving away from the 50% of the move down from the February 28th high at 1.12967. A move below the 1.1300 and the 1.12967 willl now be eyed as a risk defining level. Stay above is more bullish. Move below tilts the intraday a little more to the downside.
Having said, that the 200 hour MA is a bigger level for the shorts to get back below. That MA level earlier in the day, was a pretty good support floor that buyers leaned against (see green line). A move below would likely kill the bulls/buyers momentum (and lead to more selling).
Until then, the bulls remain in contol.
On the topside, the 61.8% at 1.13256 is a target. That level is also joined by a topside trend line. Both those levels are an attraction for the buyers to push toward. However, I would look for sellers to lean against the area.
