Fresh bulls need close above key barriers to signal continuation

The Euro stands at the front foot in Europe and penetrates thick daily cloud, following repeated downside rejection at 1.1280 zone (just above 30SMA) in Asia and subsequent acceleration higher.
Fresh upside attempts come after triple failure at falling 55SMA / daily cloud base and supported by strong bullish momentum, but require close above 55SMA / cloud base (1.1308/03 respectively) to signal further advance.
Another failure to break higher would keep the pair within current ranges but with increased downside risk, with loss of 30SMA (1.1276) to generate initial bearish signal and extension and close below converged 10/20SMA’s (1.1263) to confirm reversal and shift near-term focus lower.
EU inflation data came in line with expectations and focus turns towards Thursday’s PMI data (Germany / EU / France) which could shake the market before Easter holidays and possibly boost Euro on better than expected readings.

Res: 1.1323; 1.1347; 1.1372; 1.1385
Sup: 1.1276; 1.1263; 1.1230; 1.1210