GS: G10 FX – London Spot Trader Views

 Yesterday, equity weaknesses translated in fx position liquidation and now we are now off the extremes. Liquidity trades at premium with a significant move up across the vol space. We maintain a bearish view on commodity currencies, with short AUD our favourite expression.  
{EU} EURUSD Neutral => Key level for the session: resistance comes is at 1.1625 and 1.1713 while support holds at 1.1520/00.  
{JN} USDJPY Neutral => Support comes in around 118.60/25 while resistance stays at 120.00. 
{GB} GBPUSD Neutral => Whilst it feels like the majority of damage has been dealt in GBP positioning it’s unclear what stops the moves in equities at this stage and thus hard to step in the way of current price action. We stay side-lined with support at 1.5630 and resistance at y/day’s high at 1.5804. EURGBP 0.7300 – 0.7368 (200dma)/0.7421 yesterday’s highs. 
{NZ} NZDUSD Lower => Key levels for the session: resistance at 0.6555 and 0.6625 with support at 0.6130. 
{AU} AUDUSD Lower => In Aussie the key level on the topside is 0.7310 with 0.7130 as support. 
{CA} USDCAD Long => We favour long USDCAD with resistance at 1.3300 and 1.3350 while on the downside, 1.3190 and 1.3060 work as support.

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