The failure to hold above the 0.8250 low, has forced me to adopt a new short term count for this cross.
The best count at this point, is to count wave i at 0.8815 and wave ii ongoing. Looking at the shape of wave ii it looks as an ending diagonal is taking place as wave c of ii and if this is the case, this decline can't fall below 0.8104. However, I do expect that wave c of ii most likely will end near 0.8165, which marks the 61.8% corrective target of wave i and form there we should see the next impulsive rally higher.
Short term a break above minor resistance at 0.8467 (wave (iv)) will indicate, that wave c of ii has finished an call for a new poweful challenge of strong resistance near 0.8670 and a break here will be long term bullish.
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