The spot rate is currently testing the upper limit of its short term bearish channel at 1.3570 suggesting a return to the lower limit of its channel to 1.3450. However a break of these levels would free up significant potential.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3570 with a 1st objective of 1.3660, then 1.3690. A break in 1.3540 would invalidate this scenario.