The spot rates approaches the upper limit of its medium-term bullish channel at 0.8875 suggesting a decline. However a break of these levels would initiate a more violent bullish trend.
According to previous events, the market indicates a bearish opportunity on the levels of 0.8875 with a 1st objective of 0.8790, then 0.8770. A break in 0.8900 would invalidate this scenario.
