• GBP/ NZD initially dipped on Friday but recovered some ground as investors digested mixed US jobs report.
• August jobs report showed that jobs growth and unemployment both rose more than expected during the month, while wage growth came in below predictions..
• Choppy overnight action leads to a short lived dip but, buyers emerged near 2.1134 (38.2% fib) support.
• Technical signals are bullish as RSI is at 52 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 2.1247( 21DMA), any close above will push the pair towards 2.1277 (23.6%fib).
• Immediate support is seen at 2.1128(38.2% fib) and break below could take the pair towards 2.1001 (50% fib).
• Recommendation: Good to buy around 2.1180 , with stop loss of 2.1000 and target price of 2.1270
