The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, AUD/USD, and USD/CAD.
EUR/USD: The market seems rangy and uncertain at the moment, but the ECB meeting on Thursday and US jobless figures on Friday may provide some clarity. Fade 70 to 80 pip moves in either direction today, with stops at 1.1145 and 1.1425.
USD/CHF: The market is still consolidating, with the pair trading in its recent 0.9570-0.9690 range. We favour a break of the downside as risk remains soft and other pairs are under pressure. Selling rallies to 0.9650/70 is the recommended plan for today.
USDCAD: The support at 1.3120 has held and the pair is trading back above 1.3200 despite the stronger-than-expected Canadian Q2 GDP data. The driver on the move back higher has been oil. Stick to selling the pair on rallies between 1.3250 and 1.3300, with a stop above 1.3360, targeting a move back to 1.30.
