[EURUSD]

Important Levels to Watch for:

- Resistance line of 1.22676 and 1.22913.

- Support line of 1.22202 and 1.21965.

Commentary/ Reason:

- The euro rose 0.26% from its New Year’s Eve closing level to $1.2248. For 2020, it had gained almost 9%.

- The euro gained its strength from last week's Brexit agreement and on the EU-China investment agreement news.

- The dollar expected to be further undercut by political uncertainty ahead of the Tuesday's U.S. Senate run-off elections in Georgia. Democratic win could trigger further dollar weakness, as investors assume it would lead to higher stimulus spending which would in turn boost market sentiment and weigh on the dollar.

[USDCHF]

Important Levels to Watch for:

- Resistance line of 0.88559 and 0.88747.

- Support line of 0.87949 and 0.87761.

Commentary/ Reason:

- Against the Swiss franc, the dollar retreated 0.16% to 0.8841 on Monday.

- The riskier currencies gained ground on the prospects of Senate run-off elections in Georgia on Tuesday. Democratic win will likely mean more stimulus spending. More stimulus for the world’s largest economy generally will reduces demand for the perceived safety of holding the greenback.

[GBPUSD]

Important Levels to Watch for:

- Resistance line of 1.37113 and 1.37543.

- Support line of 1.36253 and 1.35823.

Commentary/ Reason:

- Sterling was firm at $1.3679, added 0.16% on Monday, held back after touched a more than 2-year high of $1.3697, recorded earlier today.

- Surging coronavirus cases capped the gains in sterling, after British Prime Minister Boris Johnson said that tougher lockdown restrictions were on the way.

- Meanwhile, the country will roll out the low-cost and easily transportable AstraZeneca and Oxford University COVID-19 vaccine on Monday, become the first country to do so.