The spot rate is now testing support through its medium-term downtrend channel at 1.3580 and seems to start a rebound. However a break of this zone will result in an acceleration toward the lower limit of its channel to 1.3510.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3580 with a 1st objective of 1.3670, then 1.3690. A break in 1.3550 will invalidate this scenario.
