The spot rate is currently testing the intermediate support of its medium term bullish channel in 1.2880 suggesting a rebound. However a break of these levels would entail a decline to the lower limit of this one to 1.2710.
According to previous events, the market indicates a bearish opportunity as soon as the spot rate will have broken its support in 1.2880 with a 1st objective of 1.2830, then 1.2810. A break in 1.2900 would invalidate this scenario.
