The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.5640. A breakout of this area will lead to the beginning of an upward trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance at 1.5640 with a 1st objective of 1.5730, then 1.5790. A breakthrough of 1.5610 will invalidate this scenario.
