The spot rate declined and approaches the intermediate support of its medium-term bullish channel at 1.4400 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1.4200.
According to previous events, the market indicates a bullish opportunity on the levels of 1.4400 with a 1st objective of 1.4510, then 1.4530. A break in 1.4370 would invalidate this scenario.
