Forex Trading: NZDUSD back above 0.7800

The NZDUSD rose back above the 0.7800 level but has some overhead resistance at the 0.7822 level (100 hour moving average).  Last night the Building Permits were reported worse than expected at -9.1% but Business Confidence bounced to -54.8 from -57.9.  However, this was off a 17 year low level, so how good is it.

Of course it takes two to tango in a currency pair, so the benefit in the NZDUSD today is probably a relief that business confidence was not worse AND the dollar is under pressure after the GDP report which ex exports showed negative growth.