NZD/USD: bulls find territory on 0.72 handle ahead of furtehr catalysts

NZD/USD is sticking to a narrow 50 pip range after recovering from 0.7175 territory and finding a bid back onto the 0.72 handle. 

We are with a relatively quiet start to the week in respect to data, but the US manufacturing numbers were not pretty with Empire State Manufacturing missing ina big way at -4.21 vs 2.50 expected vs 0.55 previous. We now await the TIC flows and RBNZ Wheeler's speech as the next near term catalysts before GDT price index and FOMC minutes further into the week.

NZD/USD levels

Spot is presently trading at 0.7219, and next resistance can be seen at 0.7229 (Daily High), 0.7241 (Daily Classic R1), 0.7244 (Monthly High), 0.7257 (Yesterday's High) and 0.7284 (Daily Classic R2). Next support to the downside can be found at 0.7213 (Daily Classic PP), 0.7209 (Hourly 100 SMA), 0.7209 (Weekly High), 0.7209 (Weekly Classic PP) and 0.7201 (Hourly 20 EMA). Regarding candlestick formations, we can see Piercing Line formation on the 1-hour .