Forex technical analysis: EURUSD extends up to key resistance at 1.1465

A break higher with momentum should be more bullish for the pair...

The EURUSD is banging against the 1.1465 level which is the high of the swing area eyed on the daily chart going back to Feb 2015 (see the yellow area between 1.1435-65 in the chart below).

Earlier this week, the pair moved above the level and closed above it (by 1 pip) making it only the 7th day the pair has closed above that level since Feb 2015. That move failed the next day.

We are now back up testing the level (the high actually printed 1.14677 but quickly stalled). There is tension around the level. Sellers and buyers are battling, but the back off is minimum so far.

A move above will target the highs for the week at 1.1479 and 1.1489.

Close support that may be eyed as the battle goes on at the key resistance might just be the high from yesterday at 1.1455. So far that level is holding on the modest pull back. Below that a move below 1.1440 area would take the sail out of the buyers wings on a Friday. (PS. we just traded to 1.1453 but quickly recovered).