EUR/USD Falls Below 1.22 Amid Rising US Yields and Risk-Off Mood

USD/JPY

USD/JPY battles the mid-December 2020 high while taking rounds to 104.10/20 region during Monday’s session. The yen pair rises for the fourth consecutive day despite the coronavirus (COVID-19) risks as hopes of the US fiscal stimulus gain momentum. USD/JPY could find support at 104.08 and a fall through may take it further to the support level of 103.90. On the other side, resistance could stand at 104.29 and a rise through may take it to the next resistance level of 104.43.
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EURUSD

EUR/USD has dropped below 1.22, the lowest in three weeks. Rising US yields and the Fed’s reluctance to act are boosting the dollar. Covid developments are eyed. EUR/USD could find support at 1.2163 and a fall through may take it further to the support level of 1.2150. On the other side, resistance could stand at 1.2197, and a rise through may take it to the next resistance level of 1.2215.
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GBPUSD

GBP/USD drops for the fourth consecutive day, flirts with multi-day low off-late as UK’s covid figures hover around record top and government rolls up for more vaccinations. GBP/USD could find support at 1.3570 and a fall through may take it further to the support level of 1.3553. On the other side, resistance could stand at 1.3506, and a rise through may take it to the next resistance level of 1.3526.
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GOLD

Gold remains on the back foot despite recent corrective pullback. The sharp decline amid rising US Treasury bond yields dragged the price below key support levels and triggered additional technical selloffs. Gold could find support at 1,832.60 and a fall through may take it further to the support level of 1,825.00. On the other side, resistance could stand at 1,859.00, and a rise through may take it to the next resistance level of 1,867.10.
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