The spot rate is currently testing the upper limit of its medium-term bullish channel in 1.4570 suggesting a decline. However a break of these levels would free up significant potential and initiate a bullish trend more violent.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4570 with a 1st objective of 1.4690, then 1.4720. A break in 1.4540 would invalidate this scenario.