We continue to look for a firm break above resistance at 1.0617, confirming that wave 2 has been completed and wave 3 towards at least 1.2085 is in progress. A firm break above minor resistance at 1.0617 will push the instrument up to 1.0805 as the first target, but as wave 3 is unfolding, much more upside progress must be expected.
In the short term, we find support at 1.0516 which we expect will act as a floor for the expected break above 1.0617.
