Goldman Sachs Spot Desk Strategies

OVERVIEW => USD strength remains the norm, and we maintain our bullish view on the USD vs EUR, GBP, JPY and AUD.
{EU} EURUSD Lower => We have breached the 1.07 level now and we maintain our conviction of EURUSD lower. Resistance will now come in at 1.0720 and 1.0795, while on the downside we have no more strong option barriers and the next support levels should be 1.0650.
{GB} GBPUSD Lower => We continue to favour broader USD strength vs GBP but progress is frustrating given the momentum in EURGBP. Key levels: Support in Cable at 1.5000 with 1.5150-60 stop area above.
{JN} USDJPY Higher => We like the pair higher with levels to watch: the key resistance level is 122.00-05, while on the downside, the main support levels are 120.90 and 120.60-65 below.
{AU} AUDUSD Lower => We foresee more AUD weakness and like the pair lower, with key levels: topside resistance at 0.7740, with the overnight lows of 0.7590 the immediate resistance below.
{CA} USDCAD Higher => We like the pair higher again. Key technical levels: support at 1.2550 and then 1.25, with the first resistance level coming in at 1.2705.

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