EUR/USD: We still prefer to be short but will stay flexible and fade a 40-50 pip move in either direction with stops at 1.2435/1.2600.
USD/CHF: is consolidating at the current levels. Although the dollar uptrend is firmly in place, we might get better levels to buy. Go long at support at 0.9600-20. The double top at 0.9690- 00 forms key resistance.
USD/JPY: saw the first signs of profit taking overnight after a stunning 500-pip rally and good buying interest over the last two days. There is little doubt that the pair will continue higher; the healthy break provides opportunities to establish fresh longs.
AUD/USD: With a double bottom in place, we would take some profit on shorts for now and wait to re-sell on a clear break of 0.8640 or start fading from 0.8800.
UBS