The spot rate is currently testing the lower limit of its medium term bearish channel in 1.3150 suggesting a rebound. However a break of these levels would initiate a bearish trend more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3150 with a 1st objective of 1.3250, then 1.3280. A break in 1.3120 would invalidate this scenario.
Performed by Albert Fitoussi, Analytical expert
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