Forex: NZD/USD trading negatively at 0.8170/72

FXstreet.com (Barcelona) - NZDUSD trading has been rather muted thus far, ranging slightly over only 23 pips as of European trading Tuesday (0.8158 - 0.8181). After bottoming out in the 0.8158 region, the pair has pared most its losses, before ultimately settling near 0.8170/72 at the time of writing.

"The NZDUSD is stable below the main ascending support and below the linear regression indicators. At the same time, the stochastic is attempting to show positivity, which now requires returning above 0.8255. We prefer to remain neutral today awaiting more confirmations." notes the ICN.com analyst team.

The market is perusing for a direction Tuesday morning during European trading, as neither risk aversion nor appetite has become the dominant theme thus far. Data wise, the NZ economy is slated to release key retail sales data at 21:45 GMT later tonight.

The NZDUSD has settled with a slight loss of -0.06% off its opening. ICN.com analysts point to supportive measures at 0.8135, followed by 0.8100, onto 0.8080. On the ascension or in the event of a prolonged thrust into positive territory, a short-term a breach of the 0.8185 level will trigger resistances at 0.8220 and 0.8255.