The spot rate approaches the intermediate support of its medium-term bullish channel at 1.6270 suggesting a rebound on these levels. However a break of this zone would entail a return to the lower limit of its channel at 1.6180.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6270 with a 1st objective of 1.6350, then 1.6380. A break in 1.6250 would invalidate this scenario.
