The spot rate is out of its bullish channel by breaking the lower limit of this one at 1.3670. A downtrend has begun and the pair is now testing the lower limit of this channel tat1.3530 suggesting a rebound in the short term.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3530 with a 1st objective of 1.3600, then 1.3630. A breakout of 1.3500 will invalidate this scenario.
