The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, AUD/USD, and USD/CAD.
EUR/USD: continues to trade heavy and it is hard to find a reason to fight this. Play the short side, looking to add ahead of 1.1160 with a stop above yesterday's high of 1.1208. The first hurdle on the downside will come in around 1.1085/90. A break below here could lead to a test of 1.1000.
AUD/USD: remains heavy amid weak risk sentiment. Given how nervous stock markets have been, we wouldn't be surprised if AUDUSD retests 0.6900, the low from earlier this month. Fade rallies between 0.7060 and 0.7120 with stops above 0.7175.
USD/CAD: is back at 1.33. We would stick to shorts here, keeping the stop above 1.3360. Watch Canada retail sales later today.
