The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and USD/CAD.
EUR/USD: remains heavy after breaking below 1.0800 as the dollar headed higher overnight. We are happy to sell rallies to 1.0830-40 with stops above 1.0890.
USD/JPY: With the dollar strengthening across the board, we would look to buy USDJPY on dips to 119.70 with a stop below 119.10. First resistance lies at 120.50 ahead of 121.30.
USDCAD: Square longs and buy below 1.2450, sticking to the strategy of buying spot on dips rather than chasing it higher at the wrong levels.
