Reversal or just a pullback on the Kiwi?

The New Zealand Dollar has gained a lot of ground versus the US Dollar and broke above the 0.7100 level to visit its 55 period exponential moving average on the 4 hour chart, around the 0.7150 zone. The longer term trend on this pair is bearish and that makes us wonder if today’s rally on the Kiwi is just a normal retracement or pullback to continue going lower or if this is the start or a trend change. Since the downtrend is still in place, this could be a pullback and the price may try to bounce to the downside from the 55 EMA area. But if it goes back to the 0.7100 level, the round number may act as a temporary support.