The spot rate is currently testing the lower limit of its medium-term bullish channel at 1.5960 suggesting a rebound. 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 1.5960 with a 1st objective of 1.6050, then 1.6100. A break in 1.5930 would invalidate this scenario.
