The spot rate is currently testing the lower limit of its short-term bullish channel at 1.4760 suggesting a rebound. However a break of these levels would release a large downside potential and initiate a new trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1.4760 with a 1st objective of 1.4860, then 1.4900. A break in 1.4730 would invalidate this scenario.
