Need to get above it and the 1.1465 level as well.

The EURUSD has extended to new week highs in trading this morning and in the process have tested the 200 hour MA at the 1.1442. The first look has found sellers.

The price has moved back down to 1.1424 on the dip. However the prior high for the week - at 1.1419 is so far holding as is the midpoint of the move up from the April 22 low at 1.14146. Stay above this area and the market has a chance to continue to march higher. Move below and the corrective waters get a bit more muddy (the 100 hour MA might be retested below - see blue line in the chart above).

Looking at the daily chart, the 1.1435-65 remains a key technical target ot get above. Going back to Feb 2015, there has been a number of swing highs that have stalled at this area. In fact only 6 trading days since Feb 2015 have closed above the 1.1465 level. Getting above and staying above is key.