The EURNZD is in a bearish channel coming off resistance. With high impact news both from both countries to support price movement.
Expecting a break of this mini consolidation, down towards support level as denoted in blue rectangle. This support level has shown it can provide resistance to bearing price movement (see orange arrows).
Stop loss is above previous structure high in case there is another test of previous resistance before downward price action. Take profit is at support level. This is a fair trade setup given the RR.