The spot rate approaches the upper limit of its medium-term bullish channel to 1.4380 suggesting a decline in the short term. However a break of these levels would allow it to initiate a bullish trend more violent.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4380 with a 1st objective of 1.4460, then 1.4500. A break in 1.4360 would invalidate this scenario.
