The spot rate is currently testing the lower limit of its medium term bearish channel in 100.70 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 100.70 with a 1st objective of 101.40, then 101.60. A break in 100.50 would invalidate this scenario.
The material has been provided by Instaforex Company - instaforex.com

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