EUR/NZD Bouncing lower from 2 year falling trendline resistance

EURNZD

The rate is currently experiencing a sharp sell-off after testing the resistance from a falling trendline dating back to 2015.

Although the current formation (contracting falling wedge) would leave me cautious when shorting the pair, a smaller short term short position to target the yearly lows around 1.4700 could work nonetheless.