The spot rate is currently testing resistance through its short term bearish channel and appears to initiate a withdrawal. A retreat to the lower limit of this channel at 1.3400 is possible in the short term.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3400 with a 1st objective of 1.3480, then 1.3520. A break of 1.3380 would invalidate this scenario.
