The spot rate is currently testing the lower limit of its medium-term bearish channel at 1.6210 and seems to start a rebound. 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 1.6210 with a 1st objective of 1.6310, then 1.6360. A break in 1.6180 would invalidate this scenario.
