The spot rate is currently testing its short term horizontal support at 1.3715 suggesting a rebound. However a break of these levels would initiate a return to the lower limit of the bullish channel at 1.3530.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3715 with a 1st objective of 1.3830, then 1.3860. A break in 1.3690 would invalidate this scenario.
