Climb out of the 1.1805 March 8 low now testing the daily cloud top

Cloud is thin, 1.2145-85, and unlikely to offer much resistance

The next Fibo, 61.8%, off the 1.2447-1.1805 drop, comes in at 1.2202

The more significant squeeze level is at 1.2269, Feb. 14 high

Downside and a congestion of moving averages between 1.1900 and 1.2027

Daily momentum is poised to flip positive but RSI beginning to turn over

We lean bullish but stand aside for now

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