The spot rate broke through the resistance level of its medium term downtrend channel leading to an acceleration. The pair is now approaching the upper limit of this one at 1.3170. A breakout of this zone would free up a significant upside potential.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3170 with a 1st objective of 1.3260, then 1.3290. A breakthrough of 1.3140 would invalidate this scenario.
