The spot rate approaches the lower limit of its medium-term bullish channel to 1.6350 suggesting a rebound. However a break of these levels would initiate a bearish trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6350 with a 1st objective of 1.6450, then 1.6470. A break in 1.6320 would invalidate this scenario.
