The spot rate initiates a breakdown of support through its medium term trading range at 1.5435. An acceleration toward the lower limit of this one to 1.5350 is feasible in the short term.
According to previous events, the market indicates a bearish opportunity as soon as the spot rate will have broken its support in 1.5435 with a 1st objective of 1.5350, then 1.5320. A break in 1.5460 would invalidate this scenario