EUR/USD is testing support at the 78.6% corrective target seen near 1.0887. This support should ideally protect the downside for a break above minor resistance at 1.0989 that will indicate that wave 2 is complete and the next impulsive rally higher towards 1.1495 is in motion. A break above the later will confirm that wave 3 is well under way towards the long-term target at 1.3993.
Only a break below support at 1.0805 will tell us that wave 2 still is in motion and move closer to 1.0705 should be expected before wave 3 is ready to take over.
