The spot rate came to test the upper limit of its bullish channel and declined. A return to the intermediate support of this one at 1.6150 is possible in the short term. However a break of these levels would entail a return to the lower limit of its channel at 1.6060.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6150 with a 1st objective of 1.6230, then 1.6290. A break in 1.6120 would invalidate this scenario.