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 AUD/USD, EUR/USD and NZD/USD.

USD/CHF

After firm data from Switzerland, USD/CHF trades around parity. UBS convice that real support is around 0,9960 so current correction could extend further. There is resistance at 1.0050 and 1.0085, so UBS prefer fading moves to these levels.

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EUR/USD

Yesterdays dovish comments from ECB Mario Draghi pushed pair lower, and after shooking out some shorts EUR/USD topped at 1,0830. Market reaction on a bit higher jobless claims helped to reach this local resistance zone, but UBS analytics thinks, that any further disappointment in today’s US data would provide an opportunity to add to shorts towards 1.0820/30.

AUD/USD

During asian session AUD/USD looked stuck in a thight range. Afterwards wasn’t better, and pair still trades poorly. We think the pair remains a sell on rallies. There is good short-term resistance between 0.7150 and 0.7180 and we are going to play it from the short side.