The spot rate is moving in a medium-term trading range and approach to the lower limit of this one in 1.5420 suggesting a rebound. However a break of these levels would initiate a bearish trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1.5420 with a 1st objective of 1.5480, then 1.5500. A break in 1.5400 would invalidate this scenario.
