The spot rate is currently testing the upper limit of its medium-term bearish channel at 1.6020. A break of these levels would free up significant potential.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6020 with a 1st objective of 1.6090, then 1.6120. A break in 1.5990 would invalidate this scenario.
