The spot rate approached to its resistance level through its medium-term downtrend channel 1.5780. A breakout of this zone will allow the pair to reach the upper limit of this channel at 1.5880.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5780 with a 1st objective of 1.5860, then 1.5880. A breakthrough of 1.5750 will change the situation.
