The EURUSD has now extended the days range below and now above what prevailed before 8:30. The price has moved up to the 1.3166 level which is the NY high yesterday and is also the 38.2% of the move down from Tuesday’s high. A move above that level will now be eyed for further upward clues.
Draghi continues to talk which can ignite a move higher or lower. I would expect continued momentum on a break of of the 1.3166 on stops. Looking at the chart above, 1.3188 and 1.3200 (200 hour MA) become the next targets.
