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The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.2890 suggesting a rebound. However a break of these levels would entail a decline to the lower limit of this one to 1.2810.
According to previous events, the market indicates a bullish opportunity at the levels of 1.2890 with the 1st objective of 1.2950, then at 1.2970. A break of 1.2870 would invalidate this scenario.
