The spot rate is testing support through its medium-term downtrend channel at 1.3250 suggesting a rebound in the short term. However a break of this zone would result in an acceleration toward the lower limit of its channel to 1.3110.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3250 with a 1st objective of 1.3360, then 1.3410. A break of 1.3220 would invalidate this scenario.