The spot rate came to test the upper limit of its medium-term bullish channel and declined. It is now approaching its intermediate support at 1.4380 suggesting a rebound in the short term.
According to previous events, the market indicates a bullish opportunity on the levels of 1.4380 with a 1st objective of 1.4480, then 1.4500. A break in 1.4350 would invalidate this scenario.
