• EUR/NZD retreated from daily high on Friday as currency traders took some risk off the table after US jobs data.
• EUR/NZD initially rose but dipped after hiting daily high at 1.6780. A daily close above 1.6720 (38.2%fib) will accelerate further gains.
•Today's range 1.6615-1.6757 has unfolded above 5 DMA at 1.6617.
• Technical signals show the pair could gain more ground in the short-term as RSI is bullish, daily momentum studies 5 and 9 DMAs are trending up.
• Immediate resistance is located at 1.6720 (38.2%fib), any close above will push the pair towards 1.6811(50DMA).
• Strong support is seen 1.66170(5DMA) and break below could take the pair towards 1.6600(50%fib).
Recommendation: Good to buy around 1.6650, with stop loss of 1.6550 and target price of 1.6730
