The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 77.30 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 77.90.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 77.30 with a 1st objective of 77.70, then 77.90. A break in 77.10 would invalidate this scenario.
