The spot rate is currently testing the lower limit of its medium term bearish channel in 1.5560 suggesting a rebound. However a break of these levels would entail a bearish channel more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 1.5560 with a 1st objective of 1.5630, then 1.5650. A break in 1.5540 would invalidate this scenario.
