The NZDUSD moved up to test .78 in New York today only to give up gains in late trading.  Heading into Asian trading the NZD Reserve Rate Decision is due.  The rate most likely will remain the same but the statement that follows could influence price action.  A strong economic picture could lower expectations for rate cuts and we could see the pair rally higher.  If the reserve bank paints a bleak picture we could see the cross move lower towards monthly lows.  If we look at the price action we can see that resistance begins at .78 followed by the 50 Fib just above at .7844.  A move up to this level could attract seller.  Support begins near the low of the day at daily trend line support at .7735.  A break of the trend line could lead to a measured move back to the .7650 region.This trend line has contained the pair since the beginning of the month.

Sup     .7735                     .7650

Res      .78                         .7844