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The spot rate is currently testing the upper limit of its medium-term bearish channel at 0.8850. A break of these levels would reach the upper limit of its medium-term bullish channel to 0.8900.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 0.8850 with a 1st objective of 0.8900, then 0.8920. A break in 0.8830 would invalidate this scenario.
