The spot rate is currently evolving between the lower limit of its trading range at 1.6230 and the intermediate resistance of this one at 1.6310. A break of these levels would reach the upper limit of its channel to 1.6420.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6310 with a 1st objective of 1.6420, then 1.6450. A break in 1.6280 would invalidate this scenario.
