The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.5560. A breakthrough of this area would release 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 in 1.5560 with a 1st objective of 1.5650, then 1.5710. A breakout of 1.5540 would invalidate this scenario.
