• EUR/NZD strengthened on Friday as a stronger-than-expected U.S. employment data reinforced expectations the Federal Reserve might not cut interest rates as aggressively this year.
• A Labor Department report showed the U.S. economy added 256,000 jobs in December, much higher than economists' forecasts for an increase of 160,000.
• Technical signals are bullish as RSI is at 59, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.8518( 23.6%fib), any close above will push the pair towards 1.8589(Higher BB)
• Strong support is seen at 1.8366 (38.2%fib ) and break below could take the pair towards 1.8248 (50%fib).
Recommendation: Good to buy around 1.8400, with stop loss of 1.8350 and target price of 1.8520
