The spot rate approaches the intermediate resistance of its medium term bearish channel in 77.60. A break of these levels would allow it to reach the upper limit of this one to 78.20.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 77.60 with a 1st objective of 78.20, then 78.50. A break in 77.40 would invalidate this scenario.