Tests swing area
The EURUSD has continued the grind higher, and moves toward the 38.2% retracement of the move down from the April high at 1.1854 and the 200 bar MA on the 4-hour chart at 1.18619. The high has extended to 1.18395 so far today.
Ahead of those technical levels are swing levels going back to May including the last two swing highs at 1.1829 and 1.1837 (see red circle 3 and 4). Those levels, along with the other targets from the 38.2% retracement and 200 bar MA should test the "will" of the buyers. There is just a lot of technical levels to get through.
You can see the hesitation on the 5 minute chart. The pair has moved to test the high swing area on four separate occasions (see red circles) and stalled. That is the bearish news for the longs/buyers.
The good news for the buyers, is that the corrective moves higher today, have stalled ahead of the 100 bar MA (blue line in the chart below). The last corrective move also fell short of the 38.2% of the last trend move higher (at 1.1809). Stay above the 100 bar MA keeps the buyers firmly in control.
So the buyers are grinding, and that may extend to the other targets but I would expect that sellers will lean on a test of the aforementioned levels with stops/reversals if breached.