EUR/USD tested resistance at 1.1033 as we expected and was rejected on its first attempt to break through. Short-term we expect a small setback to support near 1.0779 from where the next attempt to break resistance at 1.1033 is expected. Once the resistance at 1.1033 is broken, we should see EUR/USD gain momentum towards 1.2007 and likely closer to the 1.618 times wave 1 target at 1.2928.
