The spot rate has declined and is approaching its intermediate support at 1.3750 suggesting a rebound on these levels. However a break in this area would begin returning to the lower limit of its channel at 1.3650.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3750 with a 1st objective of 1.3760, then 1.3780. A break in 1.3720 would invalidate this scenario.
