NZD/USD: bull's spirits lifted on poor US data before NFP's

After a significant drop earlier last week, NZD/USD has been better bid today after the disappointing ISM data from the US.

The antipodeans got a lift yesterday on the back of a Australia's Capex, but The Institute of Supply Management (ISM) manufacturing activity index for the US fell to 49.9 in August from 52.6 in July. This disappointment comes significantly after recent Fed speak ahead of the FOMC this month and tomorrow's nonfarm payrolls because a reading below the 50 threshold indicates that factory activity is contracting and expectations were for reading of 52.0. However, the China Caixin PMI missed estimates overnight to print at 50.00 which could hold up the bird's advance ahead of next week's GDT price index and tomorrow's nonfarm payrolls. 

NZD/USD levels

Current price is 0.7275, with resistance ahead at 0.7276 (Hourly 200 SMA), 0.7276 (Weekly Classic PP), 0.7295 (Daily Classic R2), 0.7297 (Daily High) and 0.7301 (Weekly High). Next support to the downside can be found at 0.7273 (Daily Classic R1), 0.7267 (Yesterday's High), 0.7262 (Hourly 20 EMA), 0.7250 (Daily Open) and 0.7250 (Hourly 100 SMA). Looking at price patterns, we can see a Piercing Line 1-hour candlestick formation.