NZD/USD shying away from 0.73 in early Asia markets

• The Kiwi is running out of risk steam as Japan's government scandal swings back into focus.
• The 0.7300 handle is turning into the level to clear if NZD bulls are going to drive the pair higher.

The NZD/USD has capped off gains heading into Tokyo's Tuesday session, trading just below the 0.7300 handle.

Risk appetite surged in Monday's trading, knocking the US Dollar and the safe haven Yen lower against the wider bloc of risk-based currencies, but risk-on has missed a step in the early Asia session as the Japanese land sale scandal comes back into focus.

Recent market fears about spillover in a potential tariff-based trade war between the US and China have dominated headlines this past week, but fears have subsided and a degree of risk tolerance has sprung out of the weekend's comments that the Chinese and President Trump's administration may meet halfway on key trading terms and avert global trade war.

The macro calendar sees ANZ Activity Outlook and Business Confidence surveys at 00:00 GMT on Wednesday, followed by Building Permits at 21:45 the same day, but all three indicators are low-impact and unlikely to drive much action in the Kiwi with broader markets being driven entirely by sentiment. Little else remains on the macro calendar for the NZD for the week heading into Easter weekend.

NZD/USD Levels to consider

The pair is beginning to see some resistance play at the 0.7300 major handle, with March's high at 0.7355 beyond that, while support sits at last week's previous resistance line at 0.7260, and stiff support from the previous swing low at this week's low, 0.7230.