NZD/USD fluctuates around weekly S1 0.7277

[ANNOUNCE] Contrary to prognoses, a release of the US ISM Manufacturing PMI did not push the currency rate out from an ascending channel.[/ANNOUNCE] It actually gave it the opposite impulse. However, this upside moment was neutralized by a combined resistance level formed at the intersection of the 20- and 100-hour SMAs at 0.7303, which simultaneously represents the first reaction high of a new junior descending channel. From this perspective, the currency rate might attempt to fall and test the monthly PP at 0.7247. On the other hand, a 10-hour delay near the weekly S1 at 0.7277 most likely is going to lead to a premature breakout, as it also represents a bottom edge of the senior channel.