GS: Trader Views – FXWW Chatroom

We remain mostly sidelined ahead of the FOMC until we are out of the woods and have a better sense of USD direction in order to re-engage. We prefer to be light and nimble in terms of positioning and only hold relevant positioning in JPY, AUD, and NZD. 

  {EU} EURUSD Neutral => Our plan is to stay flexible into the FOMC and reassess post-release. Key levels for the session: support at 1.1205 (yesterday’s lows) then 1.1150 and 1.1100 below. On the topside, resistance stays at 1.1297-1.1300 (Friday’s high), then 1.1330 and 1.1387 (month’s highs). 

  {JN} USDJPY Higher => We continue to like the pair higher with support at 123.30 (week’s multiple lows) and then 122.50-70, while resistance is now at 123.80-85 and 124.20 (Friday’s highs). 

  {GB} GBPUSD Neutral => We remain neutral here in terms of positioning with key levels for today: Support at post CPI lows of 1.5542, with resistance at 1.5653 and 1.5700 (High on 21st May). 

  {NZ} NZDUSD Lower => We like the pair lower with key levels for the today: support at 0.6943 (Friday’s low), with resistance at 0.7000-10 (week’s highs) and then 0.7080. 

  {AU} AUDUSD Lower => We like the pair lower with key levels: support at 0.7698 (Friday’s low), with resistance at 0.7775 (week’s highs) and then 0.7793-0.7800. 

  {CA} USDCAD Neutral => We remain neutral here with key levels: support at 1.2285 (o/n lows) and 1.22 (this month’s lows), with resistance at 1.2345-60 (week’s highs) and then 1.2440-45. 

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