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We continue to look for more upside pressure towards 1.0927 and much higher in the longer term. That said, in the short term, we need a break above minor resistance at 1.0595 to avoid the possibility of an expanded flat correction playing out. If minor resistance at 1.0595 is able to cap the upside for a break below minor support at 1.0290, then we have the expanded flat correction playing out. A dip to 1.0097 should be seen before the next strong rally higher.
No matter whether the price breaks directly above minor resistance at 1.0595 or the expanded flat correction playing out, the long-term picture remains the same, calling for a rally to 1.0927 and much higher in the longer term. It will only be a time-matter issue.
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