Trade Ideas are short term (mostly intraday) forex strategies realesed daily by UBS analytics. In todays release we can get to know with their ideas for such currency pairs like EUR/USD, USD/CHF and USD/JPY.

EUR/USD

After breaking last week’s double-low of 1.0675, the pair has been offered on broad US dollar strength and more remarks by ECB officials warning of risks to inflation and signalling the ECB’s willingness to act. UBS don’t see this trend to end, so it recommends staying short below 1.0680/1.0700. Support at 1.0620 and resistance at 1.0730.

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USD/CHF

Pair is finally above resistance level at 1.0130 and analysts think that this trend will continue. That’s why dips should be bought above support at 1.0130 and then 1.0080/90. Today’s ZEW data showed different from expected level of consumer confidence and with strong CPI data from US buying this pair will be good idea.

USD/JPY

Pair rebounded sharply higher late yesterday, with the US dollar trading very bid ahead of today’s US CPI data and with the BoJ meeting on Thursday. A strong US inflation number could lead to fresh highs. Support at 123.00 and key resistance level at 123.80.