The spot rate has rebounded on the lower limit of its medium-term bullish channel at 1.4160 and approaches its intermediate resistance to 1.4420. A break of this zone would allow it to reach the upper limit of its channel to 1.4590.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4420 with a 1st objective of 1.4510, then 1.4580. A break in 1.4390 would invalidate this scenario.
