FxWirePro: EUR/AUD gaining momentum for a move towards 1.7300 level

• EUR/AUD strengthened  on Friday   as investors reacted to growing economic divergence between the U.S. and the eurozone.

• GDP in the 20 eurozone nations expanded by 0.2% quarter-on-quarter, surpassing the earlier 0.1% estimate, though most individual country figures remained unchanged from preliminary data.

• U.S. job growth accelerated in February, but signs of weakness are emerging in the previously resilient labor market amid trade policy uncertainty and significant federal spending cuts.

• Nonfarm payrolls rose by 151,000 in February, following a downwardly revised 125,000 gain in January, the U.S. Labor Department reported on Friday.

• Immediate resistance is located at 1.7254(23.6%fib), any close above will push the pair towards 1.7336(Higher BB).

• Immediate support is seen at 1.7037 (38.2% fib) and break below could take the pair towards 1.6880(50% fib).

  Recommendation: Good to buy on dips around 1.7160 with stop loss of 1.7100 and target price of 1. 7300