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• EUR/NZD rallied on Friday as the pair rose on the back of the non-farm payroll data.
• Nonfarm payrolls increased by only 73,000 jobs in July, according to Friday's employment report from the Labor Department's Bureau of Labor Statistics..
• EUR/NZD bulls confidence is running high, a clear break above 1.9655 (38.2% fib)would put the 1.9800 level in focus.
• From a technical viewpoint, RSI is strongly bullish 60 with the 5, 10 and 21-day MAs in a bullish alignment.
• Immediate resistance is located at 1.9655(38.2% fib), any close above will push the pair towards 1.9733 (Higher BB).
• Immediate support is seen at 1.9497 (SMA 20) and break below could take the pair towards 1.9384 (50% fib).
Recommendation: Good to buy on dips around 1.9550, with stop loss of 1.9470and target price of 1.9640.
