UBS-logoTrade 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 AUD/USD.


 

EUR/USD

Pair continues to trade in a tight range ahead of Thursday’s ECB meeting.There is clearly tension before Thursday’s EBC meeting. Today’s PMI was in line with forecasts, unemployment rate was slightly better but with no reaction from buyers. We still prefer to short EUR/USD, but not at these levels. Nearest resistance at 1.0600 and 1.0650, supports at 1.0550 and 1.0500. EURUSD.nddH1

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USD/CHF

We finnally see a bit of correction at USD/CHF, mainly driven by profit-taking ahead of this week’s big events. It seems, that 1,0250 level was a good support, but we’re still very careful with opening new longs. Stay flexible and watch support at 1.0250, 1.0220 and 1.0180 resistance at 1.0290 and 1.0330.USDCHF.nddH1

AUD/USD

AUD/USD traded bid during asian hours, with no surprises from the RBA today as it left its cash rate unchanged. Pair is flirting with 0,7300 which might be a good resistance for a while. Positioning seems very light in AUDUSD, with more focus on EURAUD. We think it is worth keeping an eye on. AUDUSD.nddH1

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