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

• NZD/USD slipped lower on Thursday   as U.S. dollar firmed following   a stronger-than-expected US ADP employment report.

• The ADP's private payrolls report released on Wednesday revealed a larger-than-anticipated increase of 143,000 jobs in the U.S. last month.

•This has heightened expectations for a robust non-farm payrolls figure on Friday, which could significantly influence the pace of Federal Reserve easing.

• The kiwi dollar was down 0.46% at $0.6233, lowest since 23rd September .

• The technical outlook remains bullish and points to eventual bigger gains, Fourteen-day momentum is positive, reinforcing the scope for a bigger gains  .

• Immediate resistance is located at 0.6285(38.2%fib), any close above will push the pair towards .6308 (Oct 2nd high).

• Support is seen at 0.6228 (50%fib) and break below could take the pair towards 0.6185 (Sep 19th low).

Recommendation: Good to sell around 0.6240 with stop loss of 0.6290 and target price of 0.6180