The spot rate is out of its medium term downtrend channel by breaking the upper limit of this one to 1.6110. A pull back is expected before a resumption of bullish.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6110 with a 1st objective of 1.6180, then 1.6240. A break in 1.6080 would invalidate this scenario.
