The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, GBP/USD, and AUD/USD.
EUR/USD: has been pressing back lower since Friday's US payrolls but had a very quiet start to the week. The data calendar is very light except for the German CPI and GDP releases later this week. Look for policymakers' comments regarding the negotiations between Greece and the Troika. As EURUSD has failed to break higher, we prefer to sell spikes towards 1.1400- 1.1450 with a close stop just above.
GBP/USD: Cable has held above 1.5200 since breaking out of the range and should remain supported. The BoE Inflation Report on Thursday should not have much impact. Although sterling remains on the sidelines, we prefer to be hawkish into the BoE minutes as the downside is very limited.
AUD/USD: We expect the pair to have limited upside and prefer to sell rallies. First resistance is at 0.7875, Friday's high and the 61.8% Fibonacci retracement of the Jan. 28-Feb. 3 selloff, ahead of 0.7900, 0.7930 and 0.8025.
