The spot rate is currently testing the lower limit of its medium-term bullish channel at 1.6130 and seems to start a rebound. However a break of these levels would initiate a bearish trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6130 with a 1st objective of 1.6240, then 1.6280. A break in 1.6100 would invalidate this scenario.
