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• EUR/AUD initially dipped on Friday but recovered ground after slightly weaker-than-expected U.S. jobs report.
• Nonfarm payrolls increased by 187,000 jobs last month.Economists polled had forecast a gain of 200,000 jobs.
• Today's price action helped to keep bullish technical signals intact,A daily bull hammer formed after the dip was bought
• From a technical viewpoint, RSI is bullish at 59, daily momentum studies, 5, 10 and 21 daily MAs all climb.
• Immediate resistance is located at 1.6766(23.6% fib), any close above will push the pair towards 1.6761(Higher BB).
• Immediate support is seen at 1.6639(5DMA) and break below could take the pair towards 1.6612(38.2%fib).
Recommendation: Good to buy on dips around 1.6720, with stop loss of 1.6590 and target price of 1.6780
