FxWirePro: EUR/NZD extends drop, faces 50%fib support

• EUR/NZD declined sharply on Friday  as investors took stock of French election uncertainty.

•French financial markets have come under selling pressure with concerns that a far-right win could add to worries over fiscal sustainability.

•.Fresh polls showed the far-right National Rally (RN) party and its allies were still in the lead but looked to fall short of getting an outright majority.

• EUR/NZD is probing 50%fib support  zone,   break lower risks drop towards 1.7700 level.

• Immediate resistance is located at 1.7686 (38.2%fib), any close above will push the pair towards 1.7760 (23.6%fib).

• Strong support is seen at 1.7635 (50%fib) and break below could take the pair towards 1.7576 (61.8%fib )

Recommendation: Good to sell  around 1.7640, with stop loss of 1.7740,  and target price of 1.7570