The spot rate is currently testing the upper limit of its short-term bearish channel in 1.4430 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its medium-term bullish channel to 1.4580.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4430 with a 1st objective of 1.4550, then 1.4580. A break in 1.4400 would invalidate this scenario.
