The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, AUD/USD, and USD/CAD.
EUR/USD: We initially saw good amount of buying above 1.14, as expected, but the euro erased gains and slipped to the mid-1.1300s later in the day as buyers retreated to the sidelines. Fade a 40- 50 pip move in either direction.
AUD/USD: The pair is likely setting a new range between 0.80 and 0.83. Play that, buying on dips to 0.80 with stops below 0.79 and fade rallies to 0.8250 with stops above 0.8325.
USD/CAD: The pair held at 1.1920 and eventually rebounded. The price action is poor overall. Sell ahead of the downtrend line around 1.2100 with a tight stop above 1.2125, for 1.1920
