The spot rate is currently testing the upper limit of its medium-term bullish channel in 1.4480 and seems to start a decline. However a break of these levels would initiate a bullish trend more violent.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4480 with a 1st objective of 1.4580, then 1.4620. A break in 1.4450 would invalidate this scenario.
