The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.3180. A breakout of this area will free a significant potential for the beginning of a new trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance level at 1.3180 with a 1st objective of 1.3280, then 1.3310. A breakthrough of 1.3150 would invalidate this scenario.
