EURUSD recently broke above the key multi-candle resistance level 1.21600 (which has been repeatedly reversing the pair from the start of December). The breakout of the resistance level 1.21600 continues the active short-term upward impulse wave (v) – which belongs to the impulse wave 3 from last month. Given the strong daily uptrend and the rising bearish USD sentiment seen across the currency markets today – EURUSD is expected to rise further toward the next resistance level 1.23000 (top of the weekly up channel from June and the target price for the completion of the active impulse wave 3).