The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.5460 suggesting a decline in the short term. A break of this zone would allow it to reach the upper limit of its short-term bullish channel at 1.5510.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5460 with a 1st objective of 1.5510, then 1.5570. A break in 1.5430 would invalidate this scenario.
