The spot rate is currently testing the resistance intermediate of its medium term bearish channel in 1.4080 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.4520.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4080 with a 1st objective of 1.4180, then 1.4200. A break in 1.4050 would invalidate this scenario.
