[EURUSD]

Important Levels to Watch for:

-        Resistance line of 1.19701 and 1.20331.

-        Support line of 1.18441 and 1.17811.

Commentary/ Reason:

1. The euro mostly traded flat against dollar on Thursday, was quoted at $1.19272 per dollar.

2. In focus ahead is on the monthly ECB meeting and press conference from ECB President Lagarde later in the day where policymakers are expected to send a message that they will prevent bond yields from rising further and harming the bloc’s economic outlook.

3. ECB officials in recent weeks have reportedly described the rise in bond yields as “unwarranted tightening” and a situation that needs to be monitored closely.

[USDCHF]

Important Levels to Watch for:

-        Resistance line of 0.93473 and 0.93956.

-        Support line of 0.92507 and 0.92024.

Commentary/ Reason:

1. Against the safe-harbor Swiss franc, the greenback bought 0.93017 franc, 0.06% higher.

2. The bout of higher U.S. bond yields undermined low-yielding currencies, including the safe-haven Swiss franc.

3. Fiscal stimulus also fueled market expectations for a rapid recovery, with President Joe Biden cleared to pass the $1.9 trillion spending package.

[GBPUSD]

Important Levels to Watch for:

-        Resistance line of 1.39977 and 1.40917.

-        Support line of 1.38097 and 1.37157.

Commentary/ Reason:

1. The British pound rose to a 1-week high on Thursday, to trade at $1.39366 after rising 0.3% on Wednesday and 0.5% on Tuesday.

2. The dollar weakened against the sterling after benign data on U.S. consumer prices and a decline in Treasury yields led some investors to trim bets on a rapid acceleration in inflation.

3. UK’s GPD figures and other economic indicators on Friday is awaited to direct the pound’s path ahead.