• GBP/NZD rebounded strongly on Friday as investors booked profit on shorts after mixed US jobs data release
• Non-farm payrolls increased by 142,000 in August, falling short of the 160,000 expected by economists surveyed . Additionally, July's figures were revised downward to 89,000.
• However, the unemployment rate remained at 4.2%, meeting expectations and down from 4.3% the previous month.
• Technical are bearish, daily RSI is negative at 51, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.2192 ( 38.2% fib), any close above will push the pair towards 2.0602 (61.8% fib).
• Immediate support is seen at 2.1155 (50% fib) and break below could take the pair towards 2.1012 (61.8% fib).
Recommendation: Good to buy around 2.0250, with stop loss of 2.0150and target price of 2.0360
