is currently in a falling wedge
due to the weakening of the currency index since the start of the year. As we approach minor supports, we're broken under a relatively strong supply area and also the daily 200 EMA
. A weak breakout of the falling wedge
could push the price further down and create a head and shoulders
on a diagonal neckline (which historically has a tendency to break down more aggressively) - moving the price down to a support that hasn't been successful breached since it was created in early 2015.