Forex Trading: NZDUSD supported by budget overnight

The NZDUSD was boosted by fiscal tax cut announced in the Budget announcement last night.  The pair moved above the 100 day Moving average at 0.7877 but stayed below the trendline resistance at 0.7908.  The high was 0.7894.  The pair is now trading at the 0.7850 level.  Traders will be watching to see if the upside resistance can be broken today.