The spot rate is currently testing the intermediate resistance of its medium term bullish channel in 1.3160 indicating a possible decline. However, a breakdown of these levels will enable the reaching of the upper limit of the channel in the point 1.3530.
Technical indicators provide signals for Buy-deals but as the resistance remains unbroken, the assumption of a decline is relevant. Bollinger bands are much discarded due to the strong increase of these days. The situation is expected to stabilize soon.
