The spot rate is currently testing the resistance level through its medium-term downtrend channel at 1.5560. A breakthrough of this zone would allow the pair to reach the upper limit of this channel at 1.5620.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5560 with a 1st objective of 1.5620, then 1.5650. A breakout of 1.5540 will change the observed situation.
