POSITIONING => We entered a new short AUDUSD while we reduced our USDJPY long, which overall maintains our USD long bias across the G10 spectrum namely vs EUR, JPY, GBP and AUD.
{EU} Short EURUSD => We remain short cash and maintain our downside option with ECB 4th Dec our target. Levels for today’s session: first support at 1.2496 (overnight’s low), S/L maintained at 1.2540.
{JN} Reduced Long USDJPY => We reduced our position ahead of the key Japanese CPI tonight. Key levels for today: 117.35-40 the first support then 116.80, while on the topside 118.10 is they key pivot. Resistance above at 118.50/60.
{GB} Short GBPUSD => We maintain our shorts for the time being but closely watching the downtrend off the summers highs around 1.5860. Support at 1.5770 then 1.5737.
{AU} New Short AUDUSD => We reengaged a short on the squeeze higher (0.8600) and the levels to watch for now: support at the new YTD lows of 0.8480, with still resistance above at 0.8620/30.
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