Trade Ideas For EUR/USD, GBP/USD, NZD/USD, USD/CAD - UBS

The following are UBS' latest short-term trading strategies for EUR/USD, GBP/USD, NZD/USD, and USD/CAD.

EUR/USD: In the short term 1.0680/85 is important and anything above 1.0720 looks like a good selling opportunity, as we expect sellers to be lined up above 1.0750.

GBP/USD: A further EURUSD correction should keep Cable under pressure, but we prefer buying closer to 1.5000.

NZD/USD: The key pivot is up at 0.6900/0.6950 and ideally fresh shorts should be established closer to those levels. Look to buy on dips, with a stop below 0.6460, targeting a catch up with the moves of other commodity currencies over the past few days.

USD/CAD: We think this correction has more room to run and would look to sell rallies towards 1.3330

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