The spot rate is moving in a medium-term trading range and approaching the lower limit of this one at 76.60 suggesting a rebound. However, a break through these levels will initiate a bearish trend.
Technical indicators give buy-signals suggesting a rebound in the short term.
According to previous events, the market will indicate a bullish opportunity at the levels of 76.60 with the 1st objective of 77.20, and then of 77.40. A puncture of 76.40 will change this scenario.
