With the new regulation coming up in July 2019, the chances for software engineer with 70 points will definitely go down.
I strongly suggest to increase your points to at-least 75 to have any chance of invite.
Before today, we were estimating the invite to be received within 7-8 months with 70 points but now, the chances are even lower or wait time would be more than 1 year starting July 2019.