The spot rate is currently testing the intermediate resistance of its medium-term bullish channel at 1.3870 and seems to start declining. However a break of these levels would reach the upper limit of its channel at 1.4030.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3870 with a 1st objective of 1.3960, then 1.4030. A break in 1.3840 would invalidate this scenario.
