The spot rate is currently testing the lower limit of its short term downtrend channel at 83.00 suggesting a rebound in the short term. However a break in this area would begin a downward trend more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 83.00 with a 1st objective of 83.40, then 83.60. A break in 82.80 would invalidate this scenario.
