Goldman Sachs Spot Desk Strategies

POSITIONING => After yesterday’s price action we have reduced our positioning substantially. We are now flat across the board; and look to be on the sidelines playing lateral moves until a trend clears out.

  •  Flat EURUSD => We are now flat here, with levels for the session: support comes in at 1.2690-1.27 and then 1.2660, with resistance on the upside at 1.2760-65 and then 1.28.
  •  Flat USDJPY => We remain flat here as well, with key levels for the session: support comes in at 107.5, with resistance levels at 108.65 and then 109.
  •  Flat NZDUSD => We have closed our position, with levels to watch: support comes in at 0.7891 (overnight lows) and then the 2013 lows of 0.7680, then on the topside we see resistance at the 0.80 level.
  •  Flat AUDUSD => We have closed our position here as well, with levels to watch: first support level is 0.8791 (overnight lows), with resistance at 0.8886-0.89, then 0.90.
  •  Flat EURGBP => We remain flat here with levels to watch: first support comes in at 0.7820 and 0.7900-20 the first clear resistance level above.

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