NZD/USD looking for a floor after falling away from 0.73

• The Kiwi is following the broader markets down against the Greenback as risk appetite returns ahead of NFP Friday.
• No data remaining this week for the Kiwi, and direction rests entirely in the hands of trader sentiment.

The NZD/USD is back into the 0.7270 area after reaching a high of 0.7322 in Thursday's trading.

The Kiwi backslid as trade war fears got pushed to the back burner, with market participants confident that negotiations between the US and China will be successful before the current round of tariffs come into effect. The surge in market sentiment sent the US Dollar broadly higher as US bond yields lifted slightly, and the NZD scaled back away from the 0.7300 major handle.

Friday's big event is the US Non-Farm Payrolls, and traders are eyeing the jobs report for the next big round of volatility in the markets. However, there are downside risks to this week's NFP, as negative weather impacts, declining manufacturing numbers, and an increase in Challenger layoffs recently all point to a jobs report that may come in softer than expected.

NZD/USD Levels to watch

The 0.7300 level eluded the NZD/USD for most of March, and the pair looks to be bouncing off of the key level once again and heading into the previous month's congestion, and as FXStreet's own Haresh Manghani noted earlier, "any subsequent retracement is likely to find support near the 0.7240 level, below which the pair seems vulnerable to head back towards the 0.7200 handle en-route the very important 200-day SMA support near the 0.7185 region. On the flip side, momentum back above the 0.7300 handle is likely to confront some fresh supply near the 0.7330 level, which if cleared might trigger a short-covering bounce and continue lifting the pair further towards the 0.7400 handle."