A price swing were quite volatile yesterday, but nothing has changed in the general picture. Wave [ii] terminated at 1.6086 and wave [iii] higher towards 1.8551 is now developing.
Short-term support is found near 1.6589, which will ideally protect the downside for a breakout above minor resistance at 1.6768 and more importantly above the resistance line of 1.6845 confirming the next rally higher to 1.7220 on its way higher to 1.8551.
The wild swings hit our stop at 1.6250 for a nice profit yesterday. We are looking for an opportunity to re-buy EUR at 1.6595 or upon a breakout above 1.6768 (one order done cancels the other).