The spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 80.30 suggesting a return to the lower limit of this one to 79.80. However a break of these levels would reach the upper limit of its channel to 81.00.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 80.30 with a 1st objective of 81.00, then 81.20. A break in 80.00 would invalidate this scenario.
