The spot rate is currently testing the lower limit of its short-term bullish channel at 1.3090. A break of these levels would result in an acceleration toward the lower limit of its downtrend channel at 1.3015.
According to previous events, the market indicates a bearish opportunity as soon as the spot rate will have broken its support in 1.3090 with a 1st objective of 1.3015, then 1.2960. A break in 1.3120 would invalidate this scenario.
