The spot rate approach to the lower limit of its medium term bearish channel in 1.2930 suggesting a rebound. However a break of these levels would entail a bearish channel more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 1.2930 with a 1st objective of 1.2990, then 1.3020. A break in 1.2910 would invalidate this scenario.



The material has been provided by Instaforex Company - instaforex.com

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