NZD/USD attempting a move towards 0.7300 handle

Having retested 50-day SMA support near 0.7255 region, the NZD/USD pair turned higher and is now inching back towards reclaiming 0.7300 handle. 

Currently trading around 0.7285 level, the pair caught up fresh bids at lower level amid prevalent risk-on environment, which is extending support to higher-yielding currencies - like Kiwi.

Further up-move, however, might be limited as markets seemed convinced that RBNZ would go ahead and ease further at its upcoming monetary policy meeting in November, which might continue to weigh on the major. 

On the economic data front, today's release of US ISM manufacturing PMI would be looked upon for fresh impetus. Market expectations are pointing that the US manufacturing sector turned back into expansion territory during September following an unexpected contraction in August. 

Technical levels to watch

Immediate upside resistance is pegged at 0.7300 handle above which could immediately dart towards 0.7330 (Sept. 27 high) before eventually rising towards its next major resistance near 0.7350-55 region. On the flip side, 0.7255-50 region (50-day SMA) remains immediate support to defend, which if broken is likely to accelerate the slide towards 0.7220 en-route 0.7200 handle support.