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The spot rate approaches the upper limit of its medium-term bearish channel to 83.20 suggesting a decline in the short term. However 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 83.20 with a 1st objective of 84.20, then 84.50. A break in 82.90 would invalidate this scenario.
