We have seen the expected correction to 1.0237. We will now be looking for a break above resistance at 1.0469 for a continuation higher to the next upside target seen at 1.0783 and 1.0926. Short-term, a break above the minor resistance area between 1.0459 and 1.0469 will confirm a continuation higher to 1.0783 and above.
Long-term, we regard the entire corrective decline from the 2011 high at 1.6038 as complete. A new impulsive rally that ultimately will take us above the 2011 peak is now in progress.
