.gif)
The spot rate approaches the intermediate support of its medium-term bearish channel to 1.6050 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1.5970.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6050 with a 1st objective of 1.6160, then 1.6190. A break in 1.6020 would invalidate this scenario.
