The spot rate is currently testing the upper limit of its medium-term bearish channel at 115.30 and seems to initiate a return. However a break of these levels would release a significant upside potential.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 115.30 with a 1st objective of 116.10, then 116.30. A break in 115.10 would invalidate this scenario.
