The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and AUD/USD.
EUR/USD: Go short EURUSD and add ahead of 1.0800 with a stop at 1.0850.
USD/JPY: is stuck in a range with little yen-specific interest. The focus seems to be on EURUSD and the other pairs are trading accordingly. As the pair is approaching the top end of the recent range, we prefer to be short with a stop above 120.70.
AUD/USD: started around 0.7630-40 yesterday and traded up to 0.7727, just shy of the 50% Fibonacci retracement of the sell-off in late March to April at 0.7736. This will now act as the first important resistance. Sell rallies toward that level, with stops above 0.7765.
