[EURUSD]

Important Levels to Watch for:

- Resistance line of 1.18394 and 1.18664.

- Support line of 1.17518 and 1.17248.

Commentary/ Reason:

- The euro fell around 0.15% to $1.1778 in Asia on Wednesday, down for a third consecutive day, recording a one-week low of 1.17696 earlier today.

- The euro fell against the dollar on Wednesday following a media report that France’s government possibly was leaning toward reinstating a national lockdown to curb a resurgence in coronavirus cases. French President Emmanuel Macron will give a televised address on Wednesday evening.

- The United States, Russia, France and other countries have registered record numbers of infections in recent days, and European governments moved to set new curbs in motion to try to rein in a fast-growing surge of cases.

- Other focus is on the United States, which is also struggling to contain the coronavirus as people vote early before elections on Nov. 3. Sentiment for the greenback has also weakened after Trump conceded that an additional round of U.S. fiscal stimulus is unlikely before the election.

EURUSD

 

[USDCHF]

Important Levels to Watch for:

- Resistance line of 0.91086 and 0.91256.

- Support line of 0.90536 and 0.90366.

Commentary/ Reason:

- The dollar steadying at 0.9090 against the Swiss franc on Tuesday.

- The USD/CHF pair is 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 1.30861 and 1.31170.

- Support line of 1.29859 and 1.29550.

Commentary/ Reason:

- Sterling held steady at $1.3040, supported by hopes for a last-minute trade deal between Britain and the European Union.

- 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 until today, which the U.K. government indicated optimism about signing a deal.

GBPUSD