The spot rate has bounced on the intermediate support of its medium-term bearish channel at 1.5980 and approaches the upper limit of this channel at 1.6110. A break of these levels would allow it to start a new trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6110 with a 1st objective of 1.6190, then 1.6220. A break in 1.6090 would invalidate this scenario.
