The New Zealand Kiwi is up 84 pips, 1%, @ .7984 against the U.S. dollar on the day.
The 3 main reasons are:
1) Better than expected Inflation Expectations q/q/ overnight: 3.0% vs. 2.6% previous
2) Risk-On - Equities stage a small rebound ahead of US housing data
3) Commodities - Gold, Silver, and Oil are all higher on the day
If risk appetite continues to regain it's footing throughout the day, NZD/USD will remain with its trajectory higher.
Next resistance levels are: R3 daily pivot @ .8041, R1 weekly pivot @ .8048...
I would look to sell between .8025-.8050, as the risk off theme should continue into the rest of the week with Europe Sovereign issues.
Even with higher Inflation numbers last night, no one is convinced that this would make the New Zealand central bank eager to raise rates sooner. The damage from the earthquakes will continue to hamper growth.