The spot rate is currently testing the lower limit of its medium term bearish channel at 76.60 suggesting a rebound. However, a break through these levels will entail a bearish channel more violent.
According to previous events, the market shows a bullish opportunity at the levels of 76.60 with the 1st objective of 77.20, then at 77.40. A break through 76.40 will change this scenario.
