Trade Ideas For EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/CAD - UBS Sales Desk
The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, GBP/USD, AUD/USD, NZD/USD, and USD/CAD.
EUR/USD: We don't see any clear trend, and movements for risk, equities and oil continue to spill over into the EURUSD market. There is some resistance at 1.1120/30, which was a decent support previously. We think 1.1150/60 would be a nice level to get short. Watch for news from the EU summit.
GBP/USD: The UK-EU talks continue in Brussels and it looks like we will have to wait until the weekend before we get something meaningful out of the summit. For today there is not much else to do other than trying not to get too excited about sporadic news headlines, while respecting the ranges.
AUD/USD: Sideways traded has resumed. Stick to playing the range. We expect 0.7040/80 to hold on the downside, while there is good resistance at 0.7200/50.
NZD/USD: Stick to buying the pair on dips towards 0.6550, with a stop below 0.6500.
USD/CAD: We prefer selling on rallies, with a tight stop. Look to establish fresh shorts between 1.3825 and 1.3875, with a stop through 1.3925, targeting a test of 1.3625/50.
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