The spot rate is currently testing the upper limit of its short-term bullish channel at 1.3260 suggesting a decline in the short term. However a break in this area would achieve the upper limit of its channel to 1.3380.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3260 with a 1st objective of 1.3360, then 1.3380. A break in 1.3230 would invalidate this scenario.
