Those are steps in the bullish direction in the short-term. Close risk for traders looking for more upside is now the 100 hour moving average (blue line in the chart above).
Although the short term bias has turned higher on the break of the 100 hour moving average, there is still work to be done to increase the bullish bias.
More specifically, getting above the 38.2% retracement of the move down from the October high to the October low comes in at 0.63136. Getting above that retracement would now be step 1 for a more bullish bias. After that, getting above the rising 200 hour moving average at 0.63299 would be the next target.
Move above that level and the swing highs from last week's trading at 0.63456 would be another target level to get to and through to show the buyers intentions.
A failure back below the 100 hour MA would disappoint the buyers. A move below would have traders retargeting the lower swing area between 0.6237 and 0.62487.
Buyers are making a play. The play is contingent on stocks and yields but short-term technicals are also a contributing factor in the pair.