Using the line as a clean way to see market structure, see how this looks like a big "bear flag" retail pattern? If the price chases liquidity pockets above and below it would typically be printing these Higher Lows, Lower Highs and an EQual Low alongside a Change Of CHaracter.
As it has another attempt at getting above .0065, my opinion is this has been a redistribution phase since February, with a big move above .0065 being my invalidation.