Daily Forex Analysis - 12 January 2021

USD Overview (12 January 2021)

Yesterday, USD strengthened against all major currencies.

It was reported that Democrats in the House of Representatives plan to carry out impeachment on President Trump on Wednesday if Vice President Pence refuses to invoke the 25th Amendment to remove Trump from the office.

NZD/USD Outlook (12 January 2021)

Overall, NZD/USD is trending upwards. Recently, NZD/USD broke the support zone of 0.72000.

NZD/USDs next support zone is at 0.70100 and the next resistance zone is at 0.72000.

Look for selling opportunities of NZD/USD.

AUD/USD Outlook (12 January 2021)

Overall, AUD/USD is trending upwards.

Currently, AUD/USD is testing the support zone of 0.76800 and the next resistance zone is at 0.79100.

Look for selling opportunities of AUD/USD if it breaks the support zone of 0.76800.

USD/JPY Outlook (12 January 2021)

Overall, USD/JPY is ranging across. Recently, USD/JPY has been trending upwards.

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

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

EUR/USD Outlook (12 January 2021)

Overall, EUR/USD is ranging across. Recently, EUR/USD broke the support zone of 1.21800.

EUR/USDs next support zone is at 1.19800 and the next resistance zone is at 1.21800.

Look for selling opportunities of EUR/USD.

GBP/USD Outlook (12 January 2021)

Overall, GBP/USD is trending upwards. Recently, GBP/USD bounced off the support zone of 1.34800

Currently, GBP/USD is moving towards the support zone of 1.34800 and the next resistance zone is at 1.37800.

Look for selling opportunities of GBP/USD if it breaks the support zone of 1.34800.

USD/CAD Outlook (12 January 2021)

Overall, USD/CAD is ranging across. Recently, USD/CAD broke the resistance zone of 1.27900.

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

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

GBP/JPY Outlook (12 January 2021)

Overall, GBP/JPY is ranging across. Recently, GBP/JPY trended up into the key level of 141.

Currently, GBP/JPY is testing to break above the key level of 141. Its next support zone is at 140.000 and the next resistance zone is at 142.200.

Look for buying opportunities of GBP/JPY if it breaks above the key level of 141.

EUR/JPY Outlook (12 January 2021)

Overall, EUR/JPY is ranging across. Recently, EUR/JPY broke the support zone of 126.800.

EUR/JPYs next support zone is at 124.750 and the next resistance zone is at 126.800.

Look for selling opportunities of EUR/JPY.