March swing highs at 1.2443 to 1.24456
The EURUSD is trying to punch back above the ceiling area at 1.2443 to 1.24456 level. As posted earlier, the area opens the door to higher levels from January and February, but they are at higher levels (1.2522, 1.25374 and 1.2554). There is room to roam...but
The "but" is, that if the pair is going to make a run, traders will want to see more momentum above this area. Right now longs are feeling ok. The corrections off the high area has been modest. So buyers are still beating the sellers, but there has to be more. Otherwise, the buyers can turn to sellers (see the 5 minute chart below).
