The spot rate is currently testing the lower limit of its medium-term bullish channel at 1.6040 suggesting a rebound in the short term. However a break of these levels would initiate a new trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6040 with a 1st objective of 1.6140, then 1.6160. A break in 1.6010 would invalidate this scenario.
