The spot rate is gone out from its medium term bearish channel by breaking the upper limit of this one in 1.6220 leading to an acceleration. A pull back on these levels is expected before a resumption of bullish.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6220 with a 1st objective of 1.6330, then 1.6370. A break in 1.6190 would invalidate this scenario.
