The spot rate has bounced on the lower limit of its medium term bearish channel in 1.3570 and approach to the intermediate resistance of its channel to 1.3660. A break of these levels would allow it to reach the upper limit of its channel to 1.3720.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3660 with a 1st objective of 1.3720, then 1.3760. A break in 1.3640 would invalidate this scenario.
