The spot rate approaches the intermediate resistance of its medium-term bullish channel at 1.4240 suggesting a decline in the short term. However a break of these levels would reach the upper limit of its channel at 1.4330.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4240 with a 1st objective of 1.4330, then 1.4360. A break in 1.4210 would invalidate this scenario.
