Trade Ideas For EUR/USD, USD/CHF, EUR/GBP, AUD/USD, NZD/USD - UBS

20 January 2016, 16:23
Vasilii Apostolidi
0
95

The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/CHF, EUR/GBP, AUD/USD, and NZD/USD.

EUR/USD: has moved higher in the risk-off environment and this should continue for a bit longer, although there should be some pressure above the high from last week. We aren't confident about the move though, and prefer looking for levels to enter into fresh shorts. Anything close to 1.1000 looks very attractive, with a stop above 1.1060.

USD/CHF: After a brief bounce yesterday, risk is getting hit again today, with equities and oil trading lower. USDCHF has moved lower in sympathy with USDJPY and is now trading just around parity, though it is certainly not leading the move. The next support is at 0.9960 and 0.9880. Continue to monitor equities and oil.

EUR/GBP: has touched a fresh high of 0.7740 today and the next target is the 2015 high of 0.7875. We prefer buying on dips, with a stop at 0.7640, targeting 0.7875.

AUD/USD: sold off to a low of 0.6847 in Asia today as equities and oil turned lower. The pair has held above last week's low of 0.6827. Keep a stop on longs below here and look to square it up ahead of the resistance at 0.6930/50.

NZD/USD: sold off sharply on the lower-than expected CPI print earlier today. The pair has stayed heavy with equities selling off and is trading below last week's low. The next support is at 0.6230/50, which held twice in September. The pivot on the topside is 0.6520. 


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