Watching NZDUSD for a Potential Head and Shoulders Development

Been keeping an eye on $NZDUSD lately, and I'm seeing something interesting on the daily chart. Price action has been pretty choppy around the 0.5640 area, and there's a developing shape that could turn into a head and shoulders pattern if things continue to unfold a certain way.

We've got what looks like a left shoulder forming around the recent highs, and the current move down could be the initial leg of the head. If we see a rally back up towards, say, the 0.5700-0.5720 zone, followed by a rejection and subsequent break below the neckine (which I'd place around the 0.5600-0.5610 area for now), then that pattern would start to solidify. The key risk, of course, is that it just fizzles out. A sustained move above 0.5750 would invalidate the pattern in my book, suggesting the bears aren't quite ready to take control yet. Just something to monitor, not actionable for me yet.