The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.3420. A break of this zone would allow it to reach the upper limit of its medium-term bullish channel at 1.3530.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3420 with a 1st objective of 1.3530, then 1.3580. A break in 1.3390 would invalidate this scenario.