[EURUSD]
Important Levels to Watch for:
- Resistance line of 1.21162 and 1.21599.
- Support line of 1.19744 and 1.19307.
Commentary/ Reason:
The euro was at $1.2054 on Monday, rebounded after it touched a 2-month low of $1.19524 on Friday.
The euro on Monday were weighted as it faces a test later with data that is expected to show German industrial output growth slowed at the end of last year, plus the optimism that U.S. President Joe Biden is to pass more fiscal stimulus.
The pace of vaccinations in Europe were expected to pick up as AstraZeneca vaccine is finally arriving in EU countries as the bloc tries to speed up its inoculation campaign and put a crisis-ridden period behind it.
[USDCHF]
Important Levels to Watch for:
- Resistance line of 0.90634 and 0.90893.
- Support line of 0.89793 and 0.89533.
Commentary/ Reason:
The dollar rose 0.08% against the Swiss franc on Monday, to 0.98957.
Sentiment for the dollar has improved recently as progress in the matters of coronavirus vaccinations, fiscal stimulus, and improving economic data forced some bearish investors to give up their short positions.
[GBPUSD]
Important Levels to Watch for:
- Resistance line of 1.37609 and 1.38071.
- Support line of 1.36111 and 1.35649.
Commentary/ Reason:
The British pound bought $1.37302, touched a new 1-week high and not far from its 3-year high.
The pound jumped as investors heavily scaled back bets that the BoE would implement sub-zero rates this year. The currency turned positive after the bank kept interest rates unchanged and indicated it would not take that position for at least six months, if at all.
