Dovish FOMC yesterday which saw the USD on the back foot and has made our research change our forecast for the first hike from September to December this year. We will remain sidelined until we get further clarification on Greece and prefer to run nimble positioning and stay flexible for the time being- only hold relevant positioning in JPY, GBP, AUD, and NZD.
{EU} EURUSD Neutral => Our plan is to stay flexible into the Eurogroup today and reassess when we get better clarity on Greece. Key levels for the session: support at 1.1320 (Tuesday’s high) then 1.1300 and 1.1270 below. On the topside, resistance at 1.1375-90 (month’s triple high).
{JN} USDJPY Higher => We continue to like the pair higher with support at 122.50-60 (month’s lows) and then 122.00-05, while resistance is now at 124.30 (yesterday’s highs) and 124.50.
{GB} GBPUSD Higher => We remain neutral here in terms of positioning with key levels for today: 1.5770 the first support below, with main resistance at 1.5879 (50% retracement of 2014 highs to 2015 lows).
{NZ} NZDUSD Lower => We like the pair lower with key levels for the day: support at 0.6845 and 0.6800, with resistance at 0.7000-15 (week’s highs) and then 0.7080.
{AU} AUDUSD Lower => We like the pair lower with key levels: support at 0.7670, with resistance at 0.7793-0.7800.
{CA} USDCAD Neutral => We remain neutral here with key levels: support at 1.2145 with resistance at 1.2320, then 1.2345-60 (week’s highs) and then 1.2440-45.