The spot rate is currently testing the lower limit of its short term bearish channel at 80.80 and seems to initiate a rebound. 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 80.80 with a 1st objective of 81.30, then 81.50. A break in 80.60 would invalidate this scenario.
