The spot rate is currently testing the intermediate resistance of its medium-term bullish channel in 1.4280 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.4490.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4280 with a 1st objective of 1.4370, then 1.4420. A break in 1.4250 would invalidate this scenario.
