• NZD/USD drifted lower towards fresh 2-year low on Friday as dollar firmed ahead of US payrolls data.
• U.S. non-farm payrolls data is forecast to show a gain of 150,000 jobs in December, with the unemployment rate steady at 4.2%.
• A stronger-than-expected report could bolster the case for fewer Federal Reserve rate cuts, potentially triggering another selloff in nervous bond markets.
• At (GMT 06:15) Kiwi dollar was trading at down 0.21% to 0.5585 against the U.S. dollar.
• Immediate resistance is located at 0.5625(50%fib), any close above will push the pair towards 0.5664(61.8%fib).
•Support is seen at 0.5574 (23.6%fib) and break below could take the pair towards 0.5530(Lower BB).
Recommendation: Good to sell around 0.5600 with stop loss of 0.5650 and target price of 0.5530
