Daily Forex Analysis - 29 December 2020

USD Overview (29 December 2020)

Yesterday, USD strengthened against most major currencies except AUD and CHF.

It was reported earlier that the House of Representative has passed the bill for $2,000 stimulus checks, a significant increase from the previous stimulus checks of $600.

NZD/USD Outlook (29 December 2020)

Overall, NZD/USD is ranging across. Recently, NZD/USD bounced up from the key level of 0.71.

NZD/USDs next support zone is at 0.70000 and the next resistance zone is at 0.72000.

Look for short-term buying opportunities of NZD/USD.

AUD/USD Outlook (29 December 2020)

Overall, AUD/USD is trending upwards. Recently, AUD/USD broke below the key level of 0.76.

Currently, AUD/USD is testing to break above the key level of 0.76. Its next support zone is at 0.73900 and the next resistance zone is at 0.76800.

Look for short-term buying opportunities of AUD/USD.

USD/JPY Outlook (29 December 2020)

Overall, USD/JPY is ranging across. Recently, USD/JPY bounced off the support zone of 103.400.

USD/JPYs next support zone is at 103.000 and the next resistance zone is at 104.600.

Look for short-term buying opportunities of USD/JPY.

EUR/USD Outlook (29 December 2020)

Overall, EUR/USD is trending upwards. Recently, EUR/USD bounced up from the key level of 1.22.

Currently, EUR/USD is bouncing off the support zone of 1.21800 and the next resistance zone is at 1.24800.

Look for short-term buying opportunities of EUR/USD.

GBP/USD Outlook (29 December 2020)

Overall, GBP/USD is ranging across. Recently, GBP/USD moved into the support zone of 1.34600.

Currently, GBP/USD is bouncing off the support zone of 1.34600 and the next resistance zone is at 1.38160.

Look for short-term buying opportunities of GBP/USD.

USD/CAD Outlook (29 December 2020)

Overall, USD/CAD is trending downwards.

Currently, USD/CAD is moving towards the support zone of 1.27900 and the next resistance zone is at 1.29800.

Look for short-term buying opportunities of USD/CAD if it bounces off the support zone of 1.27900.

GBP/JPY Outlook (29 December 2020)

Overall, GBP/JPY is ranging across. Recently, GBP/JPY moved into the support zone of 140.000.

Currently, GBP/JPY is testing the support zone of 140.000 and the next support zone is at 142.200.

Look for short-term buying opportunities of GBP/JPY if it rejects the support zone of 140.000.

EUR/JPY Outlook (29 December 2020)

Overall, EUR/JPY is trending upwards. Recently, EUR/JPY trended into the resistance zone of 126.700.

Currently, EUR/JPY is testing the resistance zone of 126.700 and the next support zone is at 124.750.

Look for short-term buying opportunities of EUR/JPY if it breaks the resistance zone of 126.700.