The spot rates approach the upper limit of its medium-term bearish channel to 83.50 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 83.50 with a 1st objective of 84.40, then 84.70. A break in 83.20 would invalidate this scenario.