• EUR/NZD initially dipped on Friday but rebounded as mixed US jobs data tempered hawkish Fed vibe.
• U.S. jobs data showed hourly earnings rose by less than expected last month. That gave hope that the Fed can be less aggressive in its path of interest rate hikes.
• The current uptrend is likely to continue as long as the pair does not move below 38.2% fib support.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 67 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7379 (23.6%fib), any close above will push the pair towards 1.7426 (Higher BB).
• Strong support is seen at 1.7286(5DMA) and break below could take the pair towards 1.7254 (38.2% fib )
Recommendation: Good to buy around 1.7330 with stop loss of 1.7250 and target price of 1.7440
