The spot rate broke through the intermediate resistance of its medium term bearish channel at 1.5570 leading to acceleration. A pull back at these levels is expected before resumption of bullish pace.
According to previous events, the market indicates a bullish opportunity at the levels of 1.5570 with the 1st objective of 1.5630, then at 1.5650. A break of 1.5550 would invalidate this scenario.
