The spot rate is currently testing the intermediate support of its medium term bullish channel in 1.5640 suggesting a rebound. However a break of these levels would entail a decline to the lower limit of this one to 1.5400.
According to previous events, the market indicates a bullish opportunity on the levels of 1.5640 with a 1st objective of 1.5720, then 1.5750. A break in 1.5620 would invalidate this scenario.
