I think it is perhaps noteworthy to look at the underlying strength/weakness of NZDUSD on the 4h timeframe. Although price is still within a rising channel, the RSI has already broken down below the lower band of it's channel.
This candle sits in the lower half of the channel on the biggest volume bar of the past year. Strengthens my thinking of a channel break to the downside as per previous post on nzdusd.
If price breaks down below the lower band of the channel,
it could target the level from where the channel originated.
Think it's quite possible for price to target just below the 61% fib
Failed Inverse-H&S followed by another smaller IHS My guess is price will target the 38 and 61% fib levels.