EUR/NZD on its way down after fake breakout

These are the types of patterns that send strong reversal signals for a currency pair.

Here we have the EUR/NZD pair with an exhausted up-move that made a fake breakout above the 1.7600 level.

Today, the price started falling down with large momentum combined with a strong triple bearish RSI divergence.

Today's candlestick is also an engulfing candlestick so far, signaling sellers are jumping into the market quite fast.