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

EUR/USD

Worse than expected Ifo report cause a fall on EUR/USD. Currently trading right above 1,10 EUR/USD is getting close to key support zone at 1.0950/80, which held several times in the past. Support at 1.1000, 1.0955 and 1.0915; resistance at 1.1050, 1.1070 and 1.1100.

EUR/GBP

Same thing as on EUR/USD. We would look to short the cross around 0.7825/35, with a stop above 0.7900. Keep an eye out for any further news on the UK’s EU referendum. Support at 0.7800, 0.7760 and 0.7698; resistance at 0.7897, 0.7954 and 0.8007.

AUD/USD

Price action on this pair looks fine. It should move upwards after breaking of 0.7250 level. Stick to playing the pair from the long side against the short-term pivot at 0.7180/90, targeting a move towards 0.7380. Support at 0.7180, 0.7110 and 0.7040; resistance at 0.7210, 0.7250, 0.7335 and 0.7400.

NZD/USD

Intraday support at 0.6660/80 zone did its job. In order to keep the upwards momentum going, the pair would need to break above 0.6760, which would open up a move towards 0.6900. Support at 0.6670, 0.6550 and 0.6500; resistance at 0.6760, 0.6900 and 0.7025.