The spot rate is currently testing the lower limit of its medium-term downtrend channel at 1.2940. A rebound is possible on these levels. However a break in this area would begin a downward trend more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 1.2940 with a 1st objective of 1.3060, then 1.3090. A break in 1.2910 would invalidate this scenario.
