The spot rate approaches the intermediate resistance of its medium term bearish channel in 79.00. A break of these levels would allow it to reach the upper limit of this one to 80.20.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 79.00 with a 1st objective of 79.80, then 80.20. A break in 78.80 would invalidate this scenario.
