The spot rate broke the intermediate support of its medium term bullish channel in 1.3180 leading to an acceleration. A pull back on these levels is expected before a resumption of bearish.
RSI provides sellers with signals but is approaching to the oversell zone suggesting a rebound. Bollinger bands are stabilized showing a more regular volatility.
According to previous events, the market indicates a bearish opportunity on the levels of 1.3180 with a 1st objective of 1.3120, then 1.3100. A break in 1.3200 would invalidate this scenario.
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