The spot rate approach to the intermediate support of its medium-term bullish channel in 1.5990 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1.5860.
According to previous events, the market indicates a bullish opportunity on the levels of 1.5990 with a 1st objective of 1.6090, then 1.6110. A break in 1.5960 would invalidate this scenario.
