The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 78.30. A break of these levels would allow it to reach the upper limit of its channel to 78.90.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 78.30 with a 1st objective of 78.90, then 79.20. A break in 78.10 would invalidate this scenario.
