The spot rates approaches the upper limit of its medium-term bearish channel to 84.15 suggesting a decline in the short term. However a break of these levels would free up significant potential and begin a rising trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 84.15 with a 1st objective of 85.20, then 85.40. A break in 83.90 would invalidate this scenario.