The spot rate has bounced off the lower limit of its short-term bullish channel at 1.3430 and approaches its intermediate resistance at 1.3495. A break of these levels would reach the upper limit of its channel at 1.3580.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance at 1.3495 with a 1st objective of 1.3580, then 1.3630. A break of 1.3470 would invalidate this scenario.
