The spot rate is currently testing the intermediate resistance of its medium-term bullish channel at 1.4400 suggesting a decline. However a break of these levels would reach the upper limit of its channel to 1.4500.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4400 with a 1st objective of 1.4500, then 1.4520. A break in 1.4370 would invalidate this scenario.
