It tried the upside but stalled after data
The EURUSD moved above a "bullish above/bearish below" area defined by a number of swing lows and highs going back to early August. That area (yellow area in the chart below) comes in at 1.1822-37. The high before the 8:30 US data reached 1.1842. The better data helped to push the pair back into the neutral area defined by the yellow area.
We trade in that range and await a push lower or higher from the market to shift the intraday trading bias more bullish or more bearish. Traders already in with a position are interested in which way the pair will break too. Right now both buyers and sellers are anxious.
On a break higher, the 200 bar MA on the 4-hour chart comes in at 1.8657. That will be the next upside target (upper green MA line).
On a break back below the 1.18219 level, look for 1.1800-04 to be the next target, followed by 1.1776 which is home to the 100 bar MA on the 4-hour (lower blue MA line in the chart above).
