[EURUSD]

Important Levels to Watch for:

- Resistance line of 1.22267 and 1.22591.

- Support line of 1.21217 and 1.20893.

Commentary/ Reason:

- The euro slipped around 0.1%, to stay at $1.2146 on Thursday, after sliding 0.4% overnight.

- The greenback found support from expectations of a continued economic recovery in the U.S., while the countries in Europe resorted to more tighter lockdowns to fend off a second COVID-19 wave.

- EUR/USD also retreated on comment from ECB President Lagarde, who said the ECB was closely monitoring exchange rates in an apparent attempt to weaken the euro and help Eurozone exporters.

- Also, increased political uncertainty in Italy pressured the euro after Italian PM Conte's coalition lost its majority in parliament.

- Meanwhile, the Fed Beige Book, released Wednesday afternoon, was positive for the dollar as it stated that most Fed districts reported a modest increase in economic activity.

- More fiscal stimulus also expected from President-elect Joe Biden's incoming administration and a Congress that will soon be controlled by Democrats. Report tells that the incoming plans will be announced later today.

EURUSD

 

[USDCHF]

Important Levels to Watch for:

- Resistance line of 0.89146 and 0.89376.

- Support line of 0.88402 and 0.88172.

Commentary/ Reason:

- The dollar gains 0.15% overnight, and added around 0.08% today, to stay at 0.88805.

- The greenback advanced on report that Biden is due to announce his economic plans for pandemic relief on Thursday.

USDCHF

 

[GBPUSD]

Important Levels to Watch for:

- Resistance line of 1.37165 and 1.37803.

- Support line of 1.35101 and 1.34463.

Commentary/ Reason:

- The British pound was flat on Thursday, trading at $1.3636 after touched a new weekly high overnight.

- The pound was partly boosted by the Bank of England governor talking down the prospect of negative rates.

- Meanwhile for dollar, the currency held, as more fiscal stimulus as expected from President-elect Joe Biden's incoming administration. Biden is expected to announce his economic plans for pandemic relief on Thursday.

GBPUSD