The spot rate is removed from its medium-term bullish channel by breaking the terminal low of 1.4020 in the latter giving rise to a strong acceleration. A pull back is expected before a resumption of the downtrend.
According to previous events, the market indicates a bearish opportunity on the levels of 1.4020 with a 1st objective of 1.3920, then 1.3860. A break in 1.4050 would invalidate this scenario.
