The spot rates approaches the upper limit of its medium-term bearish channel to 1.6410. A break of these levels would free up significant potential and begin a rising trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6410 with a 1st objective of 1.6520, then 1.6550. A break in 1.6380 would invalidate this scenario.
