The spot rate is currently testing the intermediate resistance of its medium-term bullish channel in 1.3740 suggesting a decline. However a break of these levels allow it to reach the upper limit of its channel to 1.3790.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3740 with a 1st objective of 1.3790, then 1.3840. A break in 1.3720 would invalidate this scenario.
