The spot rate has bounced off the lower limit of its medium-term downtrend channel and 1.3740 of its approach to this intermediate resistance at 1.3800. A break of this zone would allow it to reach the upper limit of its downtrend channel at 1.3910.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3800 with a 1st objective of 1.3890, then 1.3910. A break in 1.3770 would invalidate this scenario.