The spot rate is currently testing the lower limit of its medium-term bearish channel at 80.40 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 80.40 with a 1st objective of 81.00, then 81.20. A break in 80.20 would invalidate this scenario.
