The spot rate approaches the upper limit of its short-term bullish channel in 1.3760 suggesting a decline. However a break of these levels would allow it to 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 1.3760 with a 1st objective of 1.3870, then 1.3890. A break in 1.3730 would invalidate this scenario.
