RBNZ rate decision in focus early tomorrow- NZD/USD on the rebound

At 2.00am GMT tomorrow the Reserve Bank of New Zealand (RBNZ) will deliver their interest rate policy decision. The RBNZ is widely expected to leave the current OCR (official cash rate) on hold at 5.5%. If that does transpire it will ensure New Zealand interest rates remain matching that of the Fed. Ahead of this the NZD/USD has lifted from a low on July 2 at 0.6048. Prior to that the NZD/USD had dropped back from a high on June 12 at 0.6222. The pair closed in the US last night at 0.6126. The range seen so far today has been covered by 0.6114 to 0.6133 and it is near the bottom of that range just now. In terms of the wider picture, the price action is now back above all its major daily moving averages (50,100 and 200) The closest of those is the 50 day, right now at 0.6103. All the while those dynamics remain in place then the current rebound could extend to a higher wave 3 count, provided it can rise above the high seen in June at 0.6222. It could now be up to the RBNZ to decide if that transpires, or not. The NZD/USD is currently trading at 0.6120