EUR/USD failed to clear resistance at 1.1147 and instead turned lower to break below support at 1.1033 for a move closer to the support line from 0.9536. This is expected to protect the downside for another rally higher towards the 1.1444 target and possibly higher.
Short-term a break above minor resistance at 1.1010 will be a strong indication that wave ii has completed, while a break above resistance at 1.1147 is needed to confirm that wave ii has finished and wave iii towards at least 1.1444 is unfolding.
