The spot rate is currently testing the intermediate support of its medium-term bullish channel in 1.5940 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1.5830.
According to previous events, the market indicates a bullish opportunity on the levels of 1.5940 with a 1st objective of 1.6040, then 1.6060. A break in 1.5910 would invalidate this scenario.
