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The spot rate approaches support through its medium-term downtrend channel at 1.5450 suggesting a rebound on this zone. However a break of these levels would result in an acceleration toward the lower limit of its channel to 1.5240.
According to previous events, the market indicates a bullish opportunity on the levels of 1.5450 with a 1st objective of 1.5580, then 1.5630. A break of 1.5420 would invalidate this scenario.
