The spot rate is currently testing the resistance level through its medium-term bullish channel at 1.3330 suggesting a decline in the short term. However a breakout in that area would free up significant potential.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance of 1.3330 with a 1st objective of 1.3390, then 1.3430. A breakthrough of 1.3310 would invalidate this scenario.
