The spot rate has bounced on the lower limit of its medium-term bearish channel and is currently testing the intermediate resistance of this one in 79.60. A break of these levels would allow it to reach the upper limit of its channel to 81.40.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 79.60 with a 1st objective of 80.10, then 80.40. A break in 79.40 would invalidate this scenario.
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