This morning the spot rate broke through its resistance level at 1.3250, which resulted in an acceleration and the pair approached the upper limit of its downtrend channel at 1.3310. A breakout of this area will free a significant potential and begin an upward trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3310 with a 1st objective of 1.3390, then 1.3420. A breakthrough of 1.3280 will invalidate this scenario.
