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• EUR /NZD shot higher on Friday after a surprisingly strong U.S. jobs report boosted the pair.
• The report from the US Labor Department showed nonfarm payrolls surged by 517,000 jobs in January, well above the 185,000 estimate of economists.
• The euro jumped 1.36% against kiwi dollar , rise above the 1.7000(Psychological level) has reinforced the growing bullish strength.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 54,while moving averages are trending higher.
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• Immediate resistance is located at 1.7081(23.6% fib), any close above will push the pair towards 1.7000(Psychological level).
• Immediate support is seen at 1.7000(Psychological level)and break below could take the pair towards 1.6948 (38.2% fib).
Recommendation: Good to buy on dips around 1.7000, with stop loss of 1.6900 and target price of 1.7150.
