The overall trend is upward. A breakout of 1.7080 will result in the formation of a rising M5 level pattern in wave (C) of a rising M15 level pattern, which may be the wave (C) of a rising H4 level pattern. The descending pattern (the assumed wave B M15) …

The pair remains under pressure amid the rising crude oil prices, global weakness of the US dollar and the latest figures from Canada. If the former two factors remain in effect, the pair will continue to decline.

Technical side:
The price is below the middle Bollinger band, below PMA …