• EUR/NZD declined on Friday after data showed that U.S. employment and wages rose by more than economists expected in April.
• Selling pressure will remain in the short-term, only a move above 1.7650(5DMA) strong resistance will shift the bias higher.
• Technical signals show the pair could lose more ground as RSI is at 43 bearish, and 9, 11,21 DMA’s are trending south.
• Immediate resistance is located at 1.7572 (38.2%fib), any close above will push the pair towards 1.7650(5DMA).
• Immediate support is seen at 1.7463(50% fib) and break below could take the pair towards 1.7413 (Lower BB).
Recommendation: Good to sell round 1.7500, with stop loss of 1.7650 and target price of 1.7420
