[EURUSD]

Important Levels to Watch for:

- Resistance line of 1.18509 and 1.18699.

- Support line of 1.17895 and 1.17705.

Commentary/ Reason:

- The euro traded at $1.1812 after regaining about 0.10% on Tuesday trade.

- On Monday, EUR/USD moved lower on rising lockdowns in Europe due to the surge in new COVID-19 infections throughout Europe, plus on declining sentiment on German business confidence that fell by more than expected and for the first time in six months in October.

- The U.S., Russia and France set new daily records for coronavirus infections as a resurgence of the virus swelled across parts of the Northern Hemisphere, forcing some countries to impose new curbs. New infections have touched record levels in the United States, with El Paso in Texas asking citizens to stay at home for the next two weeks. In Europe, Italy and Spain imposed new restrictions.

- Thursday awaited as European Central Bank will announce its monetary decisions, followed by briefings from President Lagarde.

EURUSD

 

[USDCHF]

Important Levels to Watch for:

- Resistance line of 0.90936 and 0.91098.

- Support line of 0.90412 and 0.90250.

Commentary/ Reason:

- The dollar steadying at 0.9068 against the Swiss franc on Tuesday.

- The USD/CHF pair is once again moving away from the 0.903 support level and heading back towards the 0.910 resistance area. The current consolidation channel will likely remain intact.

USDCHF

 

[GBPUSD]

Important Levels to Watch for:

- Resistance line of 1.30789 and 1.31110.

- Support line of 1.29751 and 1.29430.

Commentary/ Reason:

- Sterling slipped overnight but was back above $1.30 on Tuesday. Sterling was last trading at $1.3036, gains about 0.10% on the day.

- Brexit negotiating teams have started intense daily negotiations, and these are likely to continue as both sides push to finalize a deal by the middle of November.

- The latest trade talks between Britain and the European Union have been extended into the middle of this week, as the U.K. government indicated optimism about signing a deal.

- EU Chief Negotiator Michel Barnier will remain in London for discussions through Oct. 28, according to a British government official. Barnier initially due to leave on Sunday under the latest timetable for the negotiations.

GBPUSD