The spot rates approach the upper limit of its medium-term bearish channel to 1.4310 suggesting a decline in the short term. However a break of these levels would free up significant potential and initiate 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 1.4310 with a 1st objective of 1.4420, then 1.4450. A break in 1.4280 would invalidate this scenario.