The spot rate is currently testing the lower limit of its medium-term bullish channel 1.6080 suggesting a rebound. However a break of these levels would initiate a downward trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6080 with a 1st objective of 1.6200, then 1.6260. A break in 1.6050 would invalidate this scenario.
