The spot rate is currently testing resistance through its short-term bullish channel at 1.5950 and seems to be starting to decline. A retreat to the lower limit of this channel at 1.5875 is possible.
According to previous events, the market indicates a bullish opportunity on the levels of 1.5875 with a 1st objective of 1.5950, then 1.5980. A break of 1.5850 would invalidate this scenario.