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The spot rate approach the lower limit of its medium-term bearish channel to 1.6280 suggesting a rebound in the short term. 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 1.6280 with a 1st objective of 1.6380, then 1.6420. A break in 1.6250 would invalidate this scenario.
