The spot rate has rebounded on the lower limit of its short term bearish channel at 1.6270 and approaches the upper limit of this one to 1.6430. A break of these levels would free up significant potential and begin a new trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6430 with a 1st objective of 1.6520, then 1.6540. A break in 1.6410 would invalidate this scenario.