The spot rate is approaching its intermediate support at 1.6060 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1.5870.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6060 with a 1st objective of 1.6180, then 1.6230. A break in 1.6030 would invalidate this scenario.
