UBS: fresh FX trade ideas
Here are UBS latest short-term trading strategies for EUR/USD, AUD/USD, and USD/CAD.
"EUR/USD: Stay LONG even though spot is back to the session-low. Buyers will show up on the move below 1.2500, and we doubt there will be many sellers on this side of 1.2600.
AUD/USD: broke the downtrend line; look for a consolidation. Resistance lies at 0.8800 ahead of 0.8930 and 0.9000. We prefer selling above 0.8850-75 with stops above 0.8925-30, for a move back lower.
USD/CAD: Establish fresh longs on dips to 1.1260-1.1220 with stops through 1.1190, targeting 1.1400."