Forex: NZD/USD trading positively at 0.8225/27

FXstreet.com (Barcelona) - Overnight, the NZDUSD was subject to a tranche of domestic data, as well as the buildup surrounding the recent resolution in Greece. Despite these catalysts, the NZDUSD has oscillated between a 25-pip range (0.8215- 0.8240), failing to break out in either direction and holding onto the 0.8200 level. In these moments the pair is trading at 0.8225/27, as it navigates positive territory at +0.11% above its opening.

"The NZDUSD retested areas near the neckline of the suggested Inverted Head & Shoulders pattern, which is not an ideal pattern moving forward. The upside rebound was accompanied by positivity on the linear regression indicators. Therefore, we hold onto our bullish intraday outlook and keep a close watch at the 0.8285 resistance followed by 0.8305." writes the ICN.com analyst team.

Overnight economic data out of New Zealand proved to be a bust for proponents of the kiwi, as most trade balance statistics came in under expectations. Earlier this morning, the RBNZ Inflation Expectations (YoY) yielded a result of 2.3%, which was also in line with estimates.

ICN.com analysts point to resistive measures at 0.8255, 0.8285, onto 0.8306. Conversely, supportive means will trigger if the NZDUSD falls to 0.8320, 0.8205, and finally 0.8185.