The spot rate broke through the resistance of its medium-term bullish channel at 1.3250 resulting in an acceleration and seems to initiate a pullback on these levels before a resumption of bullish. However a break of these levels would entail a return to the lower limit of this channel at 1.3100.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3250 with a 1st objective of 1.3350, then 1.3400. A break in 1.3220 would invalidate this scenario.
