In this situation, price had fell for several days but
1) Price is reaching the bottom of a Day channel
2) there is a strong confluence of MY levels.
I have been through this type of situations several times; I had a suspension that price will reverse from around this zone. What will be tricky would be from getting stopped out within the few days leading up to an all important RBNZD news.
As written in the chart will be my proposed way of tackling the situation.
Components to trade the reversal were there, but I need to show more fitnesse by being smarter leading up to the big event.