Goldman Sachs FX Spot Desk Strategies

Risk-off trading this morning with global equity weakness spilling-over to yen and commodity currencies selling-off. Wild range in the pound yesterday despite an in line retail sales with further USD weakness prevailing across G10. We still like USDCAD higher and AUDUSD lower. Data for today: Canada CPI and Canada Retail Sales.  
{EU} EURUSD Neutral => Look for immediate resistance at 1.13 with 1.1347 afterwards and 1.1225 and 1.1107 below as support level.  
{JN} USDJPY Neutral => Yesterday afternoon saw the 55 DMA (123.60) break and 123.60/70 will now be good resistance above. Support levels a little more sparse – 122.80 overnight lows and then 122, with the July lows at 120.40/50 the last line of defence. 
{GB} GBPUSD Neutral => Cable support 1.5640 with resistance 1.5717 and 1.5730 (weekly close above 1.5700 key). EURGBP 0.7120 – 0.7215/25. 
{NZ} NZDUSD Neutral => Key levels for the session: Resistance at 0.6650 and support at 0.6468. 
{AU} AUDUSD Lower=> We now think the pair should move lower. Levels for the session: 0.7440/50 resistance with 0.7217 as support on the downside. 
{CA} USDCAD Long => We think the pair should move lower now with technical levels for the session: support at 1.3065/60 (yesterday’s low), with 1.3213 as resistance. 
{SZ} USDCHF Neutral => Key technical levels for the session: Support at 0.9544 (200dma) and resistance above lies at 0.9670 (yesterday’s high).

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