• GBP/ NZD initially dipped on Friday as non-farm payrolls initially drove the pair lower but pulled back most of the lost ground as market digested downbeat data.
• The pair is holding near today's high, repeated failures to close below 1.9592 support is bullish sign.
• A close above 1.9661 (38.2% fib), is likely to trigger a new bullish phase with potential for 1.9750. A break under 50%fib would unmask 1.9550 level in the short term.
• Technical signals are bullish as RSI is at 58, 5, 9, 11 DMAs are trending up.
• Immediate resistance is located at 1.9661 (38.2% fib), any close above will push the pair towards 1.9751 (23.6%fib).
• Immediate support is seen at 1.9592 (50% fib) and break below could take the pair towards 1.9553 (10DMA).
Recommendation: Good buy around 1.9630, with stop loss of 1.9550 and target price of 1.9700
