The analysis is mainly based on trendlines. the next move will depend which trendline is broken.
Kommentera:
The dollar is rallying around the support area and support trend-line. Might need few more days to get the real long-term movement on the pair.
Kommentera:
The pair just bounced off on the ascending trend-line support.
Kommentera:
The pair still moving within the resistance and support zone. I anticipate a breakout on the support and 'the blue support area' with a head and shoulder chart pattern. This movement will go downwards till 0.70000 - 0.70200.
Kommentera:
Currently the pair is trading at the descending trend-line resistance. This resistance indicates strength since it has been pushing the price down since the beginning of 2019 in January. Can short the pair until the blue support zone and have your stop loss just few pip above the resistance.