_source!.png)
The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 102.20 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 104.00.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 102.20 with a 1st objective of 102.80, then 103.00. A break in 102.00 would invalidate this scenario.
