EUR/USD tested the channel support line at 0.9952 which was just above our ideal target at 0.9902. This could be enough to fulfil the target of wave C and 2 and set the stage for wave 3 higher. The expected impulsive rally in wave 3 should ultimately break above the peak of wave 1 at 1.6038.
To confirm that wave 2 has indeed completed and wave 3 is in motion, we will need a break above minor resistance at 1.0220 and more importantly above resistance at 1.0615.
