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The spot rate is currently testing the intermediate support of its medium-term bearish channel at 1.6220 and seems to start a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1.5920.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6220 with a 1st objective of 1.6330, then 1.6370. A break in 1.6190 would invalidate this scenario.
