The following are UBS’ latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, and USD/CAD.

EUR/USD: The heavy tone from last week remains intact and the pair dipped below 1.10 yesterday. We don’t see many reasons to play EURUSD from the long side, apart from the fact it is running into some very decent support. The pair tested 1.0950/80 seven or eight times after the beginning of the year before breaking higher, so this will now act as a support zone.

USD/JPY: Yen crosses remain under pressure, particularly GBPJPY and EURJPY, and with risk sentiment negative USDJPY has followed them lower. We have seen good two-way USDJPY interest, with buying on dips, but the market is nervous given that the pair is so close to the recent multi-year low of 110.98. Look to sell USDJPY and yen crosses on rallies.

GBP/USD: Brexit fears have dominated price action.  Flows are mostly biased to sell and the market is very illiquid and transactional, so the pair could head even lower once more market participants start unloading. Wait for a catch-up to sell Cable at a better level, as the latest move seems overdone.

AUD/USD: didn’t follow-through after breaking above 0.7245 yesterday. The pair has come under pressure today on the back of negative risk sentiment. Range trading has resumed with an underlying uptrend. Stick to buying on dips, ideally closer to 0.7100, with a stop at 0.7025.

NZD/USD: ran out of momentum around 0.6720 and has slipped down today. The pair is now testing the lower end of its recent trading range. We prefer buying into this dip between 0.6610 and 0.6650, with a stop below 0.6500.

USD/CAD: Stick to playing the pair from the short side, with a tight stop through 1.3860, in order to remain flexible in case there is a bigger correction following the recent selloff.

This article originally appeared at

This article originally appeared at eFXnews.