
The British monthly GDP is announced on Friday at 09:00 MT time.
EUR/USD is moving in an uptrend. It has approached the key resistance of 1.2170, which it has failed to break a few times already. If it jumps above it, the way up to the next round number of 1.2200 will be clear. On the flip side, the pair is unlikely to break the 50-period moving average of 1.2130 as it has been nicely supporting the pair since November. The Fed’s meeting on Wednesday will have a huge impact on the pair.
The British pound regained its recent losses. GBP/USD is trading inside ascending channel. If it jumps above the key resistance of 1.3400, the way up to the high of December 3 at 1.3460 will be clear. On the flip side, the move below the recent lows of 1.3300 will push the pair to the next support of 1.3200.
XAU/USD has approached the level of the recent highs at $1 845. Since it has failed to cross it several times, we can expect the pullback. If it manages to break it through, the way up to the high of December 8 at $1 870 will be clear. Support levels are $1 810 and $1 770.
The Australian dollar dipped amid the risk-off market sentiment. It is getting closer to the key psychological mark of 0.7500. It’s unlikely to break it by the first attempt, therefore we may see a retracement. If it finally drops below 0.7500, the way down to the 50-period moving average of 0.7470 will be open. Resistance levels are 0.7580 and 0.7600.
The British monthly GDP is announced on Friday at 09:00 MT time.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The US unemployment claims are out on Thursday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
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