The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 1.4480 and seems to start a decline. However a break of these levels would allow it to reach the upper limit of the channel to 1.4550.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4480 with a 1st objective of 1.4550, then 1.4580. A break in 1.4460 would invalidate this scenario.
