[EURUSD]
Important Levels to Watch for:
- Resistance line of 1.18786 and 1.20398.
- Support line of 1.16794 and 1.15182.
Commentary/ Reason:
- The euro last sat at $1.181, after twice testing support (double bottom) around $1.17, as focus turns to U.S. private jobs data due later in the day, apart from the stimulus stalemate.
- Both Stochastic and RSI indicators entered the overbought range of 80 and 70 values, respectively.
- The MACD is trading above its signal line and positive. The configuration is positive.
[USDCHF]
Important Levels to Watch for:
- Resistance line of 0.92071 and 0.93179.
- Support line of 0.90702 and 0.89595.
Commentary/ Reason:
- The pair at 0.912 as of now, after hitting new low of 0.9055 last week’s Friday.
- Stochastic oscillator entered undervalued range of 20.
- RSI oscillator also flirting towards undervalued range.
- The MACD is trading above its signal line and negative.
[GBPUSD]
Important Levels to Watch for:
- Resistance line of 1.31647 and 1.32539.
- Support line of 1.28759 and 1.27867.
Commentary/ Reason:
- The pound, which has shrugged off the dollar's bounce this week, was steady at $1.308.
- Stochastic oscillator entered overvalued range of 80.
- RSI oscillator also flirting towards overvalued range.
- The MACD is trading above its signal line and positive. The configuration is positive.