The spot rate is now testing support through its medium-term bullish channel 1.3840 suggesting a rebound in the short term. However a break in this area would entail a return to the lower limit of its channel to 1.3770.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3840 with a 1st objective of 1.3950, then 1.3980. A break in 1.3810 would invalidate this scenario.
