UBS latest short-term ideas for EUR/USD, AUD/USD, and USD/CAD.
EUR/USD: has already had big moves following USDJPY.
This price action is likely to continue. It feels like the market still
likes to be short and while this could be justified with Greece in mind,
it is definitely not a one-way street anymore. Stay flexible and try to
catch some of the wild intraday moves.
AUD/USD: was initially trading soft in Asia on dovish remarks by RBA's Stevens but turned around following the 200-pip dip in USDJPY after BoJ Governor Kuroda's comments. Fade on rallies above 0.7800 with stops above 0.7860.
USD/CAD:We would still stick to shorts, especially given the overnight move in USDJPY, trailing the stops down to 1.2380, targeting 1.20.
