The spot rate is currently testing the upper limit of its medium term bearish channel in 77.25 and seems to start a decline. 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 77.25 with a 1st objective of 77.80, then 78.20. A break in 77.05 would invalidate this scenario.