The spot rate is currently testing the upper limit of its medium-term bullish channel at 1.4720 suggesting a decline in the short term. However a break of these levels would allow it to begin a bullish trend more violent.
According to previous events, the market indicates a bearish opportunity on the levels of 1.4720 with a 1st objective of 1.4630, then 1.4600. A break in 1.4740 would invalidate this scenario.
