The spot rate approaches its medium-term intermeditate resistance bearish channel at 1.6110. A break of these levels would reach the upper limit of this one to 1.6190.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6110 with a 1st objective of 1.6190, then 1.6230. A break in 1.6090 would invalidate this scenario.