The spot rate came to test the lower limit of its medium-term bearish channel at 1.5930 and seems to start a rebound. However a break of these levels would initiate a bearish trend more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 1.5930 with a 1st objective of 1.6050, then 1.6090. A break in 1.5900 would invalidate this scenario.
