The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.2960. A break of these levels would free up significant potential and begin an upward trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.2960 with a 1st objective of 1.3020, then 1.3080. A break of 1.2940 would invalidate this scenario.
