FX Majors Trading Strategies

EURUSD: Go short around the overnight high of 1.2931 and add ahead of 1.2975 with a close stop above 1.3000.

USD/JPY: Buy on dips to 108.50, yesterday’s support. First resistance lies at 109.46 ahead of the psychological 110.

AUD/USD: With dollar buying on dips likely to dominate the next few weeks, we prefer selling rallies to 0.9100 and 0.9150 with stops above 0.9250, for a test of 0.8660.

NZD/USD: trading has been similar to that in AUDUSD. Stick to shorts for now with stops above 0.8240.

 

UBS