The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.3340. A breakout of this area will free a significant potential for the brginning of an upward trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken through its resistance level at 1.3340 with a 1st objective of 1.3420, then 1.3460. A breakthrough at 1.3310 will invalidate this scenario.
