The spot rate broke the intermediate support of its medium term bearish channel in 1.2750 leading to an acceleration. A pull back on these levels is expected before a resumption of bearish.
According to previous events, the market indicates a bearish opportunity on the levels of 1.2750 with a 1st objective of 1.2690, then 1.2660. A break in 1.2770 would invalidate this scenario.
