Trend Theme：EUR/USD: 38.2% Fibonacci 1.2220 in focus.
Trend Review：The greenback has been climbing from a nearly three-year low as a rise in US yields helped fuel the unwinding of bearish bets on the currency. In the positioning data for the week ending 5 January 2021, leveraged funds turned USD buyers. Traders are continuing to take profits against the euro which has printed a fresh low in Asia at the start of the week.
|PP||Resistance*||1.2276 *||1.2326 **||1.2368 ***|
|1.2235||Support*||1.2185 *||1.2143 **||1.2093 ***|
Trend Theme：AUD/USD fails to cheer upbeat China inflation data, prints three-day downtrend towards 0.7700.
Trend Review：AUD/USD stays depressed around the intraday low even as China prints welcome inflation figures for December. China’s CPI grew 0.2% YoY, PPI recovered to -0.4% on yearly format. Risks dwindle mid virus woes, Sino-American tension and US stimulus hopes.
|PP||Resistance*||0.7797 *||0.7834 **||0.7869 ***|
|0.7762||Support*||0.7726 *||0.7691 **||0.7654 ***|
Trend Theme：WTI: Eases from fresh multi-month top, eyes one-week-old support line.
Trend Review：Having initially jumped to the fresh high since February 2020, WTI drops, down 0.47% intraday, during Monday’s Asian session. The oil benchmark seems to take clues from the overbought RSI conditions while stepping back from a multi-day high.
|PP||Resistance*||53.09 *||53.68 **||54.81 ***|
|51.97||Support*||51.38 *||50.26 **||49.67 ***|
Trend Theme：Gold licks its wounds around $1,850 as risk dwindles.
Trend Review：Gold wavers around $1,848-50 while extending late Friday’s recovery moves to early Asian trading session on Monday. Although the coronavirus (COVID-19) and the Sino-American tension challenge the risk sentiment, hopes of the US stimulus favor gold sellers.
|PP||Resistance*||1900.95 *||1953.96 **||1990.30 ***|
|1864.61||Support*||1811.60 *||1775.26 **||1722.25 ***|