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Potential 4H short on trend line and local support break

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
On NZDUSD 4H, we can see a beautiful trendline setup. This chart has been going up for a long time and it's showing a nicely trending price. Recently, however, it has pushed into a resistance area created by a previous swing high. If you scroll left, you can clearly see that the previous price top bounced exactly at this level and then started a long bearish trend .

After the test of this resistance level , it sold off very strongly with a large bearish bar and since then, the price has been making lower highs. We can also see that the bullish trend is very extended (over 261.80% Fibonacci extension ) and we could see RSI divergence on the last two swings.

It has all the signs of an impending reversal but I want to see lower lows, though. For this setup to trigger, I want to see a break of the trendline and a break of the 0.732 level. The reason I choose this level is that this previously acted as resistance on the way up and is now a local support, so it's a logical place that I first want to see broken before taking a position.

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Good luck trading,
Felix

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