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  USD/CAD, AUD/USD and NZD/USD.

USD/CAD

Yesterday recommendation went really great, with canadian dollar trading bid just like crude oil. We still think, current short term bearish trend is going to last for few more days in line with better situation on commodities. Breakothrough 1.3300 level caused a small correction and we think it might have a little bit more room. We’re waiting for 1.3330 for entering short.

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AUD/USD

AUD/USD was playing bid yesterday, just like today during asian session. Right now pair is correcting its last moves, but UBS advises looking closer to AUD/USD with intention to sell if signal appears. Resistant levels are 0.7310 and 0.7385, support at 0.7220/30 area.

NZD/USD

Just like AUD/USD, pair traded bid in line with commodities prices, but the risk of a catch-up is increasing. Stay cautious and avoid fading this rally too early. The first resistance comes in around 0.6620 followed by 0.6710. But key resistance level is 0.6900. At this moment, buying dips is recommended with a stop below 0.6460, targeting a catch up with the moves of other commodity currencies over the past few days.