The spot rate approaches the lower limit of its medium-term bullish channel to 1.4190 suggesting a rebound in the short term. However a break of these levels would release a large downside potential and initiate a new trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1.4190 with a 1st objective of 1.4280, then 1.4320. A break in 1.4170 would invalidate this scenario.
