The spot rate is currently testing the lower limit of its short-term bullish channel at 83.10 suggesting a rebound in the short term. However a break of this zone will free a large downside potential and initiate a new trend.
According to previous events, the market indicates a bullish opportunity on the levels of 83.10 with a 1st objective of 83.60, then 83.80. A breakout at 82.90 will invalidate this scenario.