The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and AUD/USD.
EUR/USD: turned bid after trading at 1.0494 overnight. We have seen some dollar sellers already but nothing justifies this move. On the other hand, the pair has come a long way with good buying over the last few sessions. Stay flexible and keep it tight.
USD/JPY: We still prefer the pair on dips but will be patient today. USDJPY has had good resistance at 121.60/70 over the last few days; 120.70/80 might be a good entry level.
AUD/USD: We have since seen broad-based profit taking in the US dollar. Buy AUDUSD on dips to 0.7630-40 with stops at 0.7595, for 0.7730-50.
