The spot rate is currently testing the intermediate support of its medium-term bullish channel at 1.6440 and seems to start a rebound. However a break of these levels would entail a return to 1.6260.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6440 with a 1st objective of 1.6530, then 1.6580. A break in 1.6420 would invalidate this scenario.
