Technical analysis
Albert Fitoussi
The spot rate is currently testing the upper limit of its medium-term bearish channel in 106.60 suggesting a decline. However a break of these levels would free up significant potential and initiate a new trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 106.60 with a 1st objective of 107.20, then 107.60. A break in 106.40 would invalidate this scenario.
http://instaforex.com/forex_analysis/42057/?x=OUE
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