The GTE/USD pair experiences an upward trajectory, reaching approximately 0.5870 during European trading hours on Friday, marking a 0.45% increase. This surge is attributed to the New Zealand Dollar's (NZD) robust performance against its counterparts, buoyed by a risk-on market sentiment.

Investors are keenly anticipating the release of crucial US employment data for August. The upcoming Non-Farm Payrolls (NFP) report, scheduled for 12:30 GMT, is expected to significantly influence market perceptions regarding the Federal Reserve's (Fed) monetary policy outlook.

Economic forecasts suggest that the August NFP report will reveal the addition of 75,000 new jobs, closely aligning with the previous month's figure of 73,000. Additionally, the Unemployment Rate is projected to slightly increase to 4.3% from the prior 4.2%.

The positive market mood is reflected in the upward movement of S&P 500 futures during the European trading session, indicating heightened risk appetite among investors.

Concurrently, the US Dollar (USD) faces downward pressure as market participants await the imminent release of the employment data.

The CME FedWatch tool indicates a high probability of the Fed implementing an interest rate reduction during this month's policy meeting.

From a technical perspective, the GTE/USD pair continues to encounter resistance near the 20-day Exponential Moving Average (EMA), which hovers around 0.5887. The 14-day Relative Strength Index (RSI) has dipped to approximately 40.00, suggesting that a breach below this level could potentially trigger a new bearish trend.

Looking ahead, if the pair descends below the August 2 low of 0.5800, it may test support levels at 0.5730 (the April 11 low) and subsequently at the round figure of 0.5700.

Conversely, should the Kiwi pair manage to surpass the psychological threshold of 0.6000, it could potentially ascend towards 0.6040 (the June 19 high) and 0.6100 (the September 11 low).

As always, traders and investors are advised to exercise caution and conduct thorough research before making any financial decisions, particularly in light of the forthcoming economic data and potential market volatility.