FxWirePro: EUR/NZD loses momentum but outlook remains bullish

• EUR/NZD initially gained but later retreated on Thursday as investors absorbed a stronger-than-expected U.S. jobs report, while attention stayed focused on prospects of a potential EU-U.S. trade deal.

• Calmer market conditions emerged Thursday after the U.S. reached a trade agreement with Vietnam, offering reassurance before next week’s tariff deadline.

• European Commission chief Ursula von der Leyen stated the bloc hopes to reach a basic trade accord with Washington  ahead of the deadline.

• Meanehile,Data showed nonfarm payrolls increased by 147,000 jobs last month, 33% more than the 110,000 jobs forecasted by economists.

•  Technicals are favouring bullish  sentiment as RSI is at 63 and the pair is trading above 5, 11 & 14-DMA’s. 

• Immediate resistance is located at 1.9457(Daily high), any close above will push the pair towards 1.9537(Higher BB).

• Immediate support is seen at 1.9334(50% fib) and break below could take the pair towards 1.9277(SMA 20).

Recommendation: Good to buy on dips around 1.9350 with stop loss of 1.9250 and target price of 1.9450