NZDUSD Fall

After price recently saw highs of 0.73000, which the pair hasn't seen since April 2018 caused price to tank and has recently been moving slightly below the major key level 0.72500. Price on relatively larger timeframes looks to have formed an Inverse Head & Shoulders pattern, which tends to sink its movement more often than not. A Fib Retracement was set in respect to the high of 0.73000 and low of 0.71000, price has currently failed to break above the 61.8% zone. Candlestick movement may also act as proof that price is rejecting a close above the major resistance level. A major candle close below the respective EMA (20) may confirm price's movement downwards, probably towards next major support at 0.70000.