The spot rate has bounced on the lower limit of its medium term bearish channel in 1.5320 and approach to the intermediate resistance of this one in 1.5470. A break of these levels would allow it to reach the upper limit of its channel to 1.5640.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5470 with a 1st objective of 1.5580, then 1.5640. A break in 1.5440 would invalidate this scenario.