The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.5460 suggesting a rebound. However, a break of these levels would entail a decline to the lower limit of this one to 1.5360.
According to previous events, the market indicates a bullish opportunity at the levels of 1.5460 with the 1st objective of 1.5530, then of 1.5550. A break at 1.5440 will invalidate this scenario.
Performed by Albert Fitoussi, Analytical expert
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