accelerated higher at the end of the last week slightly through the upper channel resistance line which is a bullish
signal for the pair. As such, we are now observing a new wave count with possible impulsive rally underway to 0.9500 area while 0.9335 is not breached. Notice that current pull-back from the latest high is quite slow which is usually an important sign for a corrective price action. As such this pull-back could represent wave 4 in the middle of ongoing wave 3) that could reach 261.8% extension level of wave 2).
More details at: http://www.ew-forecast.com