The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and NZD/USD.
EUR/USD: run into resistance into 1.1500 and we prefer playing it from the short side. We expect the pair to top out ahead of the ECB meeting next week, so would sell around current levels with a stop above 1.1530.
USD/CHF: Expectations about a Fed rate hike this year seem to have changed dramatically, but in the short term USDCHF looks oversold and there may be room for a squeeze. Try to play the pair from the long side at 0.9490/0.9500, with a stop below 0.9470
NZDUSD: It still feels bid and we would buy dips towards 0.6800/0.6820, with a stop below 0.6780, targeting a move towards the resistance at 0.6872, which is the 50% Fibonacci retracement of the April to August move lower. After this the next resistance is 0.6938.
