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The spot rate has rebounded on the intermediate support of its medium-term bullish channel at 1.4380 and is currently testing the upper limit of this one to 1.4530. A decline is possible in the short term, however a break of these levels would allow it to begin a bullish trend more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 1.4390 with a 1st objective of 1.4480, then 1.4500. A break in 1.4360 would invalidate this scenario.
