GS FX Views

From the FXWW Chatroom – EUR: We would not want to see the euro above 1.0730 but the real level is 1.0778. To the downside, we have 1.0565, 1.0520, and 1.0457. 
JPY:  The first support level comes in at 122.23 (post Paris low) , followed by 121.90 (level going into the last NFP). Resistance on the day in the 122.70/123.00 zone and I don’t really see a trade worth implementing at the moment. Bias marginally to fade a EUR/JPY rally above 130.50. 
GBP: Fading relative extremes in the Pound remains our favoured strategy with recent range lows of 1.5030 the first support level, resistance at 1.5140. EURGBP 0.7000 – 0.7080. 
AUD/NZD: The Shanghai Comp is down over 6% and the knock-on effects to Aussie should help us lower, however frustration continues to build as the currency remains bid above 0.72 figure. A break below and we could see some weakness – we are particularly looking for a close below the 100dma at 0.7202 – but we remain wary of recent pain and week/month end dynamics. 
CAD: We remain neutral as there are better dollars to own and the headline risk from OPEC makes holding cash difficult. Levels: 1.3270 with 1.3220 below, and 1.3370 with 1.3436 above. 

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