The spot rate is currently testing the intermediate support of its medium-term bullish channel in 107.40 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 106.90.
According to previous events, the market indicates a bullish opportunity on the levels of 107.40 with a 1st objective of 107.90, then 108.10. A break in 107.20 would invalidate this scenario.
