[EURUSD]

Important Levels to Watch for:

- Resistance line of 1.22462 and 1.22936.

- Support line of 1.21514 and 1.21040.

Commentary/ Reason:

- The euro pulled back to $1.2174, down 0.36% from a recent top of $1.2349, to touch a new 2-week low.

- The underlying source of the dollar revival has been the on the aftermath of the Senate elections and as the markets anticipating more fiscal support for the U.S. economy.

- The euro also slipped on concern that economic growth will slow as European countries are forced to tighten and extend lockdowns to slow the surging COVID-19 pandemic infection.

EURUSD

 

[USDCHF]

Important Levels to Watch for:

- Resistance line of 0.89020 and 0.89388.

- Support line of 0.88284 and 0.87916.

Commentary/ Reason:

- The dollar hit its weekly high against the Swiss franc on Monday, rose 0.37% to trade at 0.8884.

- The dollar gains as the treasury yields were at 10-month highs as President-elect Joe Biden is due to announce plans for “trillions” in new relief bills this week, much of which will be paid for by increased borrowing.

USDCHF

 

[GBPUSD]

Important Levels to Watch for:

- Resistance line of 1.35967 and 1.36607.

- Support line of 1.34687 and 1.34047.

Commentary/ Reason:

- The sterling lost 0.42% on Monday to touch 2-week lows, last trading at $1.3498.

- The dollar extended a rebound on Monday, as sharp gains in U.S. yields and hopes for more stimulus to boost the world’s largest economy prompted some investors to temper bearish bets.

GBPUSD