The spot rate is currently testing the upper limit of its medium term trading range in 79.35 suggesting a decline . However 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 79.35 with a 1st objective of 79.90, then 80.10. A break in 79.15 would invalidate this scenario.
