The spot rate is currently testing resistance through its medium-term downtrend channel at 1.5470. A break of this zone would allow it to reach the upper limit of its channel to 1.5530.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5470 with a 1st objective of 1.5530, then 1.5570. A break in 1.5440 would invalidate this scenario.
