EUR/USD: We would like to sell closer to 1.2550, but struggle to see it much higher than that – the perfect sell on bigger squeeze would be around 1.2675, with a 1.2725 stop.
USD/JPY: We saw good selling around 115.00 overnight. As the pullback should extend for now, it is difficult to trade this intraday and find levels. In the bigger picture, USDJPY 112.50 should be strong support for now, and any dip near 113.00 should be bought, we think.
AUD/USD: We still like playing this from the short side, adding near yesterday’s breakout level of 0.8640 with a stop above 0.8680, targeting a break of 0.8550 and a drop to 0.8350; commodities will remain an important driver.
UBS