The EURUSD is back up retesting a swing area between 1.1359 and 1.1368. Within that range also sits the 38.2% retracement of the move down from last Thursday's high which comes in at 1.13617.
The price is higher today, but earlier in the New York session there was a spate of buying in the USD. The dollar moved to new session highs vs the GBP , CHF, CAD, NZD, but have since given up gains. The EURUSD moved lower as well (higher USD) but remained off the low for the day and started to move back higher.
That move back to the upside extended the trading range for the day to a new high of 1.13677. So far the aforementioned swing area has led to sellers leaning. A move above would still have other targets like the falling 100 hour MA at 1.13747, the 200 hour MA at 1.1402 and the 100 day MA at 1.14055 to get to, and through, but each successive break would increase the bullish bias.
On the other end of the spectrum, is that those upside target levels could also attract sellers who may be the dip buyers taking profit, or outright sellers who stick a toe in the water vs the risk defining levels, with the hope of more sabre rattling from Putin/Biden/Europe/NATO. All it takes is one headline, and the buyers could all turn to sellers again.
