NZD/USD stuck in tight range near 0.7200, US data eyed

The NZD/USD pair prolongs its downside consolidation mode after the sell-off seen in the US last session, as focus shifts towards US dataflow for fresh direction on the major.

NZD/USD fails to extend beyond 0.7200

Currently, the NZD/USD pair drops -0.25% to 0.7195, retreating from session lows struck at 0.7186 some minutes ago. The bears remain in command this session, despite broad based US dollar weakness, with the Kiwi having reversed entire RBNZ-led strong gains.

Moreover, the NZD/USD pair finds little impetus from subdued trading activity seen around the European equities, as all eyes remains on the US economic calendar for fresh moves on the US dollar, which will eventually shape up next direction in the major. Meanwhile, the Kiwi saw limited reaction to weaker Chinese data dump released earlier on the day.

NZD/USD Levels to consider

To the upside, the next resistance is located at 0.7250 (daily pivot), above which it could extend gains to 0.7300 (round figure). To the downside immediate support might be located at 0.7182/75 (5 & 10-DMA) and from there to at 0.7139/26 (50 & 20-DMA).