The spot rate has bounced off the lower limit of its medium-term bullish channel at 1.6030 and approaches its intermediate resistance at 1.6160. A break of these levels would achieve its resistance to 1.6250.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6160 with a 1st objective of 1.6250, then 1.6290. A break in 1.6130 would invalidate this scenario.