EURUSD bounces off support target

Back above 1.1000 

The EURUSD moved down test a swing level at the 1.09507 area. A swing high from February 27 and then a swing low from Feb 28th formed the level. The price decline today reached 1.09538 and found dip buyers.

The bounce has now taken the price to a corrective high of 1.1020. The current price is trading around the 1.1000 level.  

If the upside momentum can continue, the next target comes in at 1.1050 and then the 100 day MA at 1.10637.  

Drilling to the 5 minute chart below, the price consolidation near the support has allowed for the price extend above the 100 bar MA.  That MA comes in at 1.09917.  If that MA can hold support, more upside corrective action can continue.  

EURUSD on 5 minute

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