Goldman Sachs FX Spot Desk Strategies

OVERVIEW => Focus today is on US NFP. We stay light and flexible going into the weekend of Greece negotiation while we keep some small EUR short into US payroll. Our biggest positioning is on short CAD, AUD, and NZD. 
{EU} EURUSD Neutral => We plan to play tactically into NFP while staying sidelined for US holiday and the weekend. Key levels for the session: support at 1.1050 (o/n’s low at 1.1032) and 1.0950, with resistance at 1.1180 and then 1.1220.
{JN} USDJPY Neutral => We are neutral here with levels: support at 122.00 (Tuesday’s low), and resistance at 124.30-50 (o/n’s high at 123.46) 
{GB} GBPUSD Neutral => We remain neutral in Sterling for the time being with levels: 1.5560 support and 1.5620/40 topside. 
{NZ} NZDUSD Lower => The follow-through from the weak business confidence out of New Zealand saw Kiwi and AudNzd print fresh cycle lows and highs respectively. We continue to like kiwi lower with support at 0.6596/61 and resistance at 0.6882. 
{AU} AUDUSD Lower => We play the pair lower through options, with support at 0.7587 and 0.7800 as the primary resistance.
{CA} USDCAD Higher => Weak GDP out of Canada revived the interest on the pair, especially in anticipation of the pressure to react for the next BOC meeting. We like the pair higher with support at 1.2500 and resistance at 1.2600 (y/day’s high at 1.2598) and 1.2667.

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