The spot rate has bounced off the lower limit of its medium term bearish channel at 1.3540 and approaches to the intermediate resistance of this one at 1.3630. A break of these levels would reach the upper limit of its channel at 1.3770.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3630 with a 1st objective of 1.3730, then 1.3770. A break in 1.3600 would invalidate this scenario.
