The price has approached to the lower limit of its medium term bullish channel at 1.5680 suggesting a rebound. However a break of these levels will free a large potential and entail a bearish channel.
Technical indicators provide buy-signals supporting the assumption of a rebound. Bollinger bands are much discarded to a result of the strong decline of these days. Stabilization is expected in the short term.
According to previous events, the market indicates a bullish opportunity at the levels of 1.5680 with the 1st objective of 1.5740, then 1.5760. A break through 1.5660 will invalidate this scenario.
