Goldman Sachs Spot Desk Strategies

POSITIONING => After having reduced our positioning substantially coming into the week, we are slowly reengaging into our core EURUSD short. We are now flat USDJPY and on Sterling; and maintain a marginally short position on AUD and NZD.

Short EURUSD => We are looking to gradually rebuild our position here following our conviction of EUR lower, with levels for the session: support for the session comes in at 1.26 and then 1.2575, with resistance on the upside at 1.2683 (this week’s double top) and then 1.2700-20, where we are looking to add to our positioning. S/L 1.2750.

Flat USDJPY => We remain flat here for the time being, with key levels for the session: Support comes in at 108.15-20 and resistance levels are 109 and then 109.50.

Short NZDUSD => We maintain our position here with levels to watch: support comes in at 0.7760 and then the 2013 lows of 0.7680, then on the topside we see resistance at 0.7920-30 levels.

Short AUDUSD => We hold our position here also with levels to watch: first support level is 0.8730 and then 0.8640, with resistance at 0.8820-30.

Flat EURGBP => We remain flat here with levels to watch: first support comes in at 0.7820 and 0.7889 last week’s high the resistance level above.

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