The spot rate is currently testing the intermediate support of its medium term bearish channel in 1.3060 suggesting a rebound. However a break of these levels would entail a decline to the lower limit of this one to 1.2990.
RSI provides seller signals suggesting a decline in the short term. Bollinger bands are stabilized showing a more regular volatility.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3060 with a 1st objective of 1.3120, then 1.3150. A break in 1.3040 would invalidate this scenario.
Performed by Albert Fitoussi, Analytical expert
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