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The spot rate is currently testing the lower limit of its medium-term bearish channel at 80.60 suggesting a rebound in the short term. However a break of these levels would initiate a bearish trend more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 80.60 with a 1st objective of 81.40, then 81.70. A break in 80.40 would invalidate this scenario.
