• EUR/NZD eased slightly on Thursday as investors awaited U.S. nonfarm payrolls report due on Friday.
• U.S. nonfarm payrolls report for July is due for release on Friday which could help guide expectations for additional interest rate hikes by the Federal Reserve.
• A rally towards is possible if EUR/NZD bulls overcome resistance at 23.6%fib.
• From a technical viewpoint, RSI is strongly bullish at 57, daily momentum studies, 5, 10 and 21 daily MAs all climb.
• Immediate resistance is located at 1.8044(23.6%fib), any close above will push the pair towards 1.8091 (Higher BB).
• Immediate support is seen at 1.7924 (38.2% fib) and break below could take the pair towards 1.7877(9DMA).
Recommendation: Good to buy on dips around 1.7980, with stop loss of 1.7880 and target price of 1.8080.
