The pair has broken the uptrend after breaking down the larger degree corrective structure to the downside. If we stay and consolidate below the trend line it gives us an opportunity to short the pair for some serious pips in the short term.
Comment:
it turned out to be a bounce and resumption of the uptrend, market caught by surprise from RBNZ, another surprise later on the day by ECB was obviously not enough to pull it down.