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The spot rate approaches the upper limit of its medium term bearish channel to 1.4370 suggesting a decline. 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 1.4370 with a 1st objective of 1.4480, then 1.4520. A break in 1.4340 would invalidate this scenario.
