[EURUSD]

Important Levels to Watch for:

-  Resistance line of 1.20937 and 1.21151.

-        Support line of 1.20509 and 1.20295.

Commentary/ Reason:

  1. The euro touched a new 6-week low of $1.2071 on Monday, after slumped 0.63% on Friday last week.

  2. The dollar rose after Janet Yellen, President-elect Joe Biden’s pick to take over the U.S. Treasury, is expected to affirm the United States’ commitment to market-set currency rates when she testifies on Capitol Hill on Tuesday.

  3. The euro, meanwhile were under pressure as the European announced tighter and longer coronavirus lockdowns and as vaccinations are not expected to help much for another two to three months.

EURUSD

 

[USDCHF]

Important Levels to Watch for:

-        Resistance line of 0.89362 and 0.89503.

-        Support line of 0.88906 and 0.88765.

Commentary/ Reason:

  1. The dollar rose steadily on Monday, to stay at 0.8914, as it touched a new 1-month high earlier today.

  2. The prospect of new U.S. fiscal stimulus advancing the greenback, though the moves were hampered as question on how the U.S. will pay for it all were raised.

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:

  1. Sterling on Monday sat near at a 1-week low of $1.3567.

  2. The greenback strengthening as a safe-haven demand for the currency among investors kicked in.

  3. The dollar also strengthened after Janet Yellen, President-elect Joe Biden’s pick to take over the U.S. Treasury, is expected to affirm the U.S.’s commitment to market-set currency rates when she testifies on Capitol Hill on Tuesday.

GBPUSD