NZD/USD Price Analysis: Kiwi again faces rejection above 0.71

• NZD/USD trades near 0.7089 versus 0.7013 early Monday. 
• Charts indicate uptrend fatigue and scope for a pullback. 

NZD/USD's rally from the early November low of 0.66 looks to have paused near 0.71. The pair has repeatedly struggled to establish a foothold above that psychological hurdle since Dec. 3. 

The pair is currently trading near 0.7088, having printed a session high of 0.7013 early Monday. 

Rejections at 0.71, particularly the ones seen following Thursday's bullish marubozu candle, indicate uptrend exhaustion and scope for a pullback. The failed channel breakout seen on the 4-hour chart is also conveying a similar message. 

Support is seen at 0.7060 (10-day SMA), followed by 0.70. Meanwhile, resistance is located at 0.7113 (Friday's high). A close higher would signal a continuation of the rally from November lows near 0.66./ 

Daily chart

Trend: Neutral

Technical levels