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The spot rate is currently testing the resistance level through its medium-term bullish channel at 1.5630. A breakout of this zone will allow the pair to reach the upper limit of its channel at 1.5680.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5630 with a 1st objective of 1.5680, then 1.5720. A breakthrough in 1.5610 afterward will invalidate this scenario.
