The spot rate approaches the upper limit of its medium-term bullish channel to 1.4550 suggesting a decline. 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 1.4550 with a 1st objective of 1.4650, then 1.4680. A break in 1.4520 would invalidate this scenario.