The spot rate is currently testing the lower limit of its medium-term bullish channel at 1.4480 and seems to start a rebound. However a break of these levels would free a large downside potential and initiate a new trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1.4480 with a 1st objective of 1.4580, then 1.4610. A break in 1.4450 would invalidate this scenario.