The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.3155 suggesting a decline in the short term. However a break of these levels would free up significant potential and begin 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 1.3155 with a 1st objective of 1.3200, then 1.3240. A break in 1.3130 would invalidate this scenario.
