The spot rate is currently testing the upper limit of its medium-term bullish channel at 82.30 suggesting a decline in the short term. However a break of these levels would initiate a more violent bullish trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 82.30 with a 1st objective of 82.80, then 83.00. A break in 82.10 would invalidate this scenario.
