Back in the upper half
The EURUSD has broken higher on the back of the lower starts and permits numbers.
The data has pushed the price above the 50% of the move down from last weeks high at the 1.13488 level. It has also pushed the price above the 1.3333-1.3345 area which was home to a bunch of swing lows from April 1 to April 12. On April 13th, the price broke lower, but has been inching higher since bottoming last Thursday. Earlier today, the 1.3345 level held on two separate occasions - with corrections down to 1.1314 and 1.13268 on the corrections.
With the break higher now, the level turns from resistance to support. The buyers are in more control.
Looking at the daily chart, the Feb 11 high at the 1.1376 is the next target.
