The pair is in a concerted mini-down-trend after breaking below a key multi-touch level of support.
The move down is taking place within a broader consolidation range with a ceiling at 0.74 and floor at 0.70.
Currently the pair is pausing, however, and correcting up in what is probably an a-b-c pattern, which is currently unfolding leg C. This could eventually reach 0.7070.
After leg C has completed, however, the mini-down-trend will probably resume and eventually reach the floor 0.7000.
The pair is in a concerted mini-down-trend after breaking below a key multi-touch level of support.
The move down is taking place within a broader consolidation range with a ceiling at 0.74 and floor at 0.70.
Currently the pair is pausing, however, and correcting up in what is probably an a-b-c pattern, which is currently unfolding leg C. This could eventually reach 0.7070.
After leg C has completed, however, the mini-down-trend will probably resume and eventually reach the floor 0.7000.