The spot rate has bounced off the lower limit of its medium-term downtrend channel and is currently testing the upper limit of this one at 1.3335. A breakout of this area would free a significant potential for 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 1.3335 with a 1st objective of 1.3400, then 1.3440. A breakthrough of 1.3310 would invalidate this scenario.
