The spot rate has broken yesterday its support at 1.5250 giving rise to acceleration. It is currently testing the lower limit of its medium-term bullish channel at 1.3120 and seems to start a rebound. However a break of this zone would free a large potential downside and initiate a new trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3120 with a 1st objective of 1.3220, then 1.3270. A break of 1.3090 would invalidate this scenario.
