Albert Fitoussi
Technical analysis
The spot rate is currently testing the lower limit of its medium term bearish channel in 109.50 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 109.50 with a 1st objective of 110.20, then 110.50. A break in 109.30 would invalidate this scenario.
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