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Merry Christmas guys. We wish you a wonderful new year. Today is holiday and markets are closed. Not much of action is anticipated and most traders will remain inactive during holidays.
However, there are still a few things if someone is trading can keep an eye on!
EURUSD – 1.2220 is an important resistance and a break above might take it 20-30 pips higher in the near term. On the downside, the 1.2160 support area is likely to hold during this week.
GBPUSD – 1.5550-60 is pivot zone, as if the pair managed to settle above the same, then more gains are possible.
AUDUSD – Downside pressure remains and more losses cannot be denied moving ahead.
Overall, there is a chance of the US dollar correcting lower, but it might be well supported on the dips in the near term.