Goldman Sachs Spot Desk Strategies

From Goldman Sachs via our FXWW chat room:

 GSEUR: We will look to add to our short at 1.3415 with a stop rolled down to 1.3460, first support at yesterday’s 1.3367 low, 1.3250 target depending on the strong US data staying on track.

JPY: We remain long cash, allowing the price action to dictate. The next milestone on the cards will be 103.50, as we wait and see if the market is hungry enough to take in Dollars ahead of NFP.

GBP: For time being, it’s hard to step in the way of the USD trend. Levels: 100dma at 1.6854, resistance now at 1.6960/80. EURGBP 0.7874 below with 0.7940 then 0.7990 above.

CAD: Next target on the horizon will be the June highs of 1.0962 where we would once again look to roll our stop up – the 1.0880 post FOMC lows most likely the correct level.

AUD: The desk now has exposure to AUDUSD downside after US GDP numbers. A break of the key support zone 0.9185/0.9215 over the coming week would potentially open us up to a move sub 0.90.

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