The spot rate approaches to the upper limit of its medium term bearish channel at 1.3090 and seems to start a decline. However a break of these levels can free significant potential and initiate a bullish trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance at 1.3090 with the 1st objective of 1.3150, then 1.3180. A break at 1.3070 can invalidate this scenario.
