The spot rate came to test the upper limit of its bullish channel at 1.6230 and fell . A return on its intermediate support to 1.6070 is feasible in the short term.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6070 with a 1st objective of 1.6170, then 1.6230. A break in 1.6040 would invalidate this scenario.
