[EURUSD]
Important Levels to Watch for:
- Resistance line of 1.22400 and 1.22741.
- Support line of 1.21297 and 1.20957.
Commentary/ Reason:
The euro weakened 0.11% to $1.2154 after touching a 7-week high of $1.22435 on Thursday.
The euro on downtrend against the U.S. dollar as the stronger greenback sentiment curbed risk appetite for the local currency.
The dollar rebounded from an almost 2-month low overnight in the latest example of how currency markets have recently taken cues from bonds moving on changing outlooks for economic growth and inflation.
Euro zone bond yields also spiked despite the ECB chief economist Lane on Thursday saying it was closely watching their rise.
[USDCHF]
Important Levels to Watch for:
- Resistance line of 0.90895 and 0.91115.
- Support line of 0.90186 and 0.89967.
Commentary/ Reason:
The dollar rebounded from yesterday’s 0.20% slump to traded higher on Friday against the Swiss franc. Last traded at 0.90593, up 0.13%.
[GBPUSD]
Important Levels to Watch for:
- Resistance line of 1.41747 and 1.42450.
- Support line of 1.39473 and 1.38770.
Commentary/ Reason:
The British pound weakened to $1.39657, down 0.28% on the day, on top of 0.94% slump overnight.
The dollar jumped following a spike in U.S. bond yields.
An easing of the pandemic in the U.S. is hawkish for Fed policy and supportive for the dollar as new daily U.S. COVID-19 infections on Monday fell to a 4-month low of 54,612.