Forex: NZD/USD muted post NZ trade balance; top heavy

FXstreet.com (Barcelona) - The New Zealand Dollar is mostly muted after the release of the NZ trade balance figures, which offered a pretty neutral reading, with NZ Trade Balance at +15 million in July vs +331 million in June. NZD/USD broke Thursday's low pre-data announcement finding its session lowest at 0.8118 before a mild bounce sent the pair a few pips higher to currently stay unchanged for the day at 0.8323. Thursday St Louis Fed Pres Bullard thrw some cold water onto the speculation of immediate action by the Fed, tempering QE3 prospects. According to Brent Hansen, analyst at IFR Markets, "tech topside failure prompts concern of deeper pullback through 0.8100."

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