The spot rate is currently testing the upper limit of its medium-term bullish channel at 1.6600 and seems starting to decline. A return to the intermediate support to 1.6450 is possible in the short term.
According to previous events, the market indicates a bearish opportunity on the levels of 1.6600 with a 1st objective of 1.6490, then 1.6450. A break in 1.6630 would invalidate this scenario.
