The spot rate broke through the resistance of its medium-term downtrend channel at 1.5520 resulting in an acceleration and seems to initiate a pullback on these levels before a resumption of bullish. A rebound in this area would achieve the upper limit of its channel at 1.5740.
According to previous events, the market indicates a bullish opportunity on the levels of 1.5520 with a 1st objective of 1.5620, then 1.5660. A break in 1.5590 would invalidate this scenario.
