FxWirePro:EUR/NZD drops below 1.7700 level, heads deeper into bear territory

• EUR/NZD dipped   on Friady  after robust U.S. nonfarm payrolls  data reinforced investors  expectations the Fed will hold rates higher for longer.

• Data showed U.S. nonfarm payrolls increased by 336,000 jobs last month.

• A fresh bearish signal emerged today as EUR/NZD down trend extended, break of 23.6%fib  supports will bring 1.7550 level in  focus.

•Immediate resistance is located at 1.7771(11DMA), any close above will push the pair towards 1.7754(38.2%fib).

•Immediate support is seen at 1.7640(23.6%fib) and break below could take the pair towards 1.7549(Sep 29th low).

Recommendation: Good to sell around 1.7630 with stop loss of 1.7760  and target price of 1.7585