The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.5860. A breakout of these levels would free significant potential and lead to an upward trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance at 1.5860 with a 1st objective of 1.5950, then 1.5980. A breakthrough of 1.5830 will change the observed situation.