The spot rate has bounced off the lower limit of its short term bearish channel at 1.3430 and approaches the upper limit of this one at 1.3530. 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 1.3530 with a 1st objective of 1.3620, then 1.3660. A break in 1.3510 would invalidate this scenario.
