Yesterday EURUSD rallied with a wide range and closed near the high of the day, in addition managed to close above the previous day high, suggesting a strong bullish momentum.
The pair closed well above the 10-day moving average also is above the 50 and the 200-day moving averages that are acting as dynamic support.
The recent EURUSD rally is in speculation that the Fed will not raise rates in April but all can change on Friday as the US prepares to release the non-farm payrolls numbers.
The key levels to watch are: A daily resistance at 1.1456, the 2016 high at 1.1376 (resistance), the previous swing high at 1.1342 (resistance), a daily support at 1.1237, the 10-day moving average at 1.1223 (support) and the 50 day moving average at 1.1122.
"I trade to make money not to be right."