The spot rate has bounced off the lower limit of its medium-term downtrend channel and is currently testing its intermediate resistance at 1.3200. A breakout of this area would release a significant potential.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3200 with a 1st objective of 1.3270, then 1.3340. A breakthrough of 1.3170 would invalidate this scenario.
