Reaction is higher
The RBNZ cut rates, begged for the currency to move lower, but the NZDUSD (at least for now) has rallied higher.
The pair has moved above the 100 hour MA at the 0.72324 level. That level will now be a support level on dips if the buyers are to remain in control.
On the topside the price moved toward the 0.7362 level. The 0.7362-79 is resistance on the daily chart. A move above that level opens up the upside for potential further gains.
RBNZ Wheeler will speak at 4 PM ET.