The spot rate has rebounded on the lower limit of its medium term bearish channel at 1.4120 and approaches the intermediate resistance of this one to 1.4240. A break of these levels would reach the upper limit of its channel to 1.4360.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4240 with a 1st objective of 1.4340, then 1.4360. A break in 1.4210 would invalidate this scenario.
