The spot rate is currently testing the intermediate resistance of its medium-term bullish channel to 83.00 suggesting a decline in the short term. However a break of these levels would reach the upper limit of this bullish channel at 84.20.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 83.00 with a 1st objective of 83.60, then 84.20. A break in 82.80 would invalidate this scenario.