The pair shows a local downward reversal as the demand for commodity assets falls due to the pandemic surge and the resulting decrease in the economic activity in the world. The pair is more likely to decline than to resume the uptrend.
Technical side:
The price is at the level of the middle Bollinger band, below SMA 5 and SMA 14, the moving averages intersect, suggesting to sell. RSI is at 50%. Stoch are declining.
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Trading recommendations:
Sell the pair with a local target of 0.7020 after its decline below 0.7100.