May have a pause at 1.1284 area
The EURUSD has moved higher on the back of the weaker than expected US NFP (138K and -66K revisions to prior months).
Technically, the price has moved above the recent swing highs at 1.1256 and 1.12678, and looks next toward the key 1.1300 level. Recall, the spike high from the November US election reached that level (or a pip or two below), before tumbling lower. Before reaching that level, however, there may be a pause in the 1.1284 area. IN September 2016, there were a number of swing highs between 1.1279-84. The high today has reached 1.1282 so far. We trade at 1.1272.
What now after the spike higher?
Looking at the hourly chart above, the 1.1250-56 area has had a number of swing levels going back to May 23rd. That area is also near the 38.2% of the move up from the low today (at 1.1252 - see 5 minute chart below). Look for buyers to use that area as risk now. A move below would not be a healthy. It isn't the end of the bullish world, but it muddies the bullish picture a bit.
The 1.1300 level is a big key level for the pair.