The spot rate approaches the upper limit of its medium-term bearish channel to 81.10 suggesting a decline. However a break of these levels would free up significant potential and begin a bullish trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 81.10 with a 1st objective of 81.90, then 82.40. A break in 80.90 would invalidate this scenario.
