The spot rate is currently testing the lower limit of its medium term bearish channel in the point 107.00 confirmig a possibilty of a rebound. However, in case these levels are passed through, the significant potential will be revealed boosting a bearish channel.
Technical indicators provide signals for BUY-deals supporting the assumption of a rebound. Bollinger bands are much discarded due to the strong decline that took place these days. The situation is expected to stabilize soon.
Considering the previous events, the market indicates a bullish opportunity at the level 107.00 with 1st objectives seen at 107.60 and 107.80 levels. If the point 106.80 is passed through, the prospect plan will be cancelled.
