The spot rate is currently testing the upper limit of its medium-term bearish channel at 80.50 suggesting a decline. However a break of these levels would free up significant potential and initiate a new trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 80.50 with a 1st objective of 81.30, then 81.50. A break in 80.30 would invalidate this scenario.
