This is the daily chart showing that there is a count that treats the decline from 1.3285 as a 5 wave decline. Under this count, the next big move is towards 1.10. The rally from .9647 to 1.0249 is best counted as a double zigzag (7 waves), which either completes a correction or is the first leg in a more complex correction.
Given the action (nothing impulsive) since the 1.0249 top, we favor the latter. Look for support at .9838 (100% of 1.0249-.9871/1.0216) and .9776 (78.6% of .9647-1.0249). A rally through 1.0089 warrants a bullish bias.
