NZD/USD consolidates shy of 0.73 ahead of nonfarm payrolls

NZD/USD, falling just shy of the 0.73 handle, the bird is consolidated after a good recovery from last week's Jackson hole sell off ahead of the key nonfarm payrolls coming up in today's us shift.

Nzd/usd rallied overnight on the back of the disappointing ism data from the us, extending the support from yesterday's Australian capex. The institute of supply management (ism) manufacturing activity index for the us fell to 49.9 in august from 52.6 in July. The data comes in stark contrast to the recent fed speak ahead of the FOMC this month and tomorrow's nonfarm payrolls and next week's gdt price index and tomorrow's nonfarm payrolls.

NZD/USD levels

Spot is presently trading at 0.7283, and next resistance can be seen at 0.7295 (daily classic r2), 0.7297 (daily high), 0.7297 (yesterday's high), 0.7301 (weekly high) and 0.7311 (ytd high). Support below can be found at 0.7283 (daily open), 0.7281 (daily low), 0.7277 (hourly 200 sma), 0.7276 (weekly classic pp) and 0.7273 (daily classic r1).  Regarding candlestick formations, we can see dark cloud cover formation on the 1-hour.