• EUR/NZD rose higher on Friday as growing prospects for a U.S. coronavirus relief package after a grim employment report helped boost demand for euro.
• EUR/NZD lifts further above 1.7200 (38.2% Fib). A test of 1.7333 zone cannot be ruled out.
• Technical signals indicate bullish movementum, as RSI is at 51, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7286 (30DMA), any close above will push the pair towards 1.7344 (23.6%fib).
• Strong support is seen at 1.7202 (38.2% fib) and break below could take the pair towards 1.7148 (23.6% fib )
Recommendation: Good to buy around 1.7200, with stop loss of 1.7100 and target price of 1.7350
