The spot rate is currently testing the lower limit of its short term downtrend channel at 82.80 suggesting a rebound in the short term. However a breakthrough of this area would make a downward trend more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 82.80 with a 1st objective of 83.40, then 83.60. A breakout of 82.60 would invalidate this scenario.
