• EUR/NZD rallied on Friday as the pair ticked up on the back of the non-farm payroll data.
• EUR/NZD recovered from early New York lows after finding buyers at 9-day moving average for a second day.
• EUR/NZD bulls confidence is running high, a clear break above 1.7816 (5 DMA)would put the 1.7900 level in focus.
• From a technical viewpoint, RSI is strongly bullish 67 with the 5, 10 and 21-day MAs in a bullish alignment.
• Immediate resistance is located at 1.7816 (5 DMA), any close above will push the pair towards 1.7927 (50% fib).
• Immediate support is seen at 1.7722 (50% fib) and break below could take the pair towards 1.7646 (14 DMA).
Recommendation: Good to buy on dips around 1.7830, with stop loss of 1.7650 and target price of 1.7930.
