[EURUSD]

Important Levels to Watch for:

- Resistance line of 1.16608 and 1.16741.

- Support line of 1.16175 and 1.16041.

Commentary/ Reason:

- A firmer dollar kept the euro on a back foot, fell to 1-month trough, although it was steady at $1.1651 in Tuesday trade.

- The dollar extended its gains since last week, climbs to a 5-week high on Monday on EUR/USD weakness after more European countries impose lockdowns.

- Surging new COVID-19 cases weighed on the euro. France, Germany and the UK have announced nationwide lockdowns for at least the next month that are almost as strict as the restrictions in March and April. Portugal has imposed a partial lockdown and Spain and Italy are tightening restrictions.

- Traders braced for volatility around the U.S. presidential election week.

EURUSD

 

[USDCHF]

Important Levels to Watch for:

- Resistance line of 0.92151 and 0.92337.

- Support line of 0.91549 and 0.91363.

Commentary/ Reason:

- The dollar at one-month high of 0.92064 against the Swiss franc on Monday, though receded steadily on trading day Tuesday to 0.9187.

USDCHF

 

[GBPUSD]

Important Levels to Watch for:

- Resistance line of 1.29616 and 1.29963.

- Support line of 1.28491 and 1.28143.

Commentary/ Reason:

- Sterling fell as low as $1.2852 on Monday, the lowest since Oct. 7. It was last trading at $1.2918 on the day.

- The pound hitting its lowest overnight in almost four weeks on news of a new national lockdown.

- Sterling traders continue to eye updates on Brexit trade talks. EU and British Brexit negotiators will continue talks in Brussels until around mid-week, in a sign of continued efforts to avoid a breakdown in trade when their deal deadline ends in less than nine weeks.

- With more than 20,000 new coronavirus cases a day in Britain, Prime Minister Johnson on Saturday announced a lockdown across England that will last until Dec. 2, with a possibility to be further extended.

GBPUSD