Forex Daily Forecast, Analysis and Prediction

The Australian dollar rallied significantly during the trading session on Thursday to break above the 0.75 handle.

The AUD/USD continued to rise during early trading today, as analysts in international banks attributed the strength of the Australian dollar to the Reserve Bank of Australia's policy to reduce the interest rate, which is currently close to zero.

Gold prices returned to a sharp decline with losses that reached the support at $1825 an ounce before settling around $1835 an ounce at the time of writing.

Cautious anticipation amid pessimistic expectations regarding Brexit pervades the GBP/USD currency pair today.

For five trading sessions in a row, the EUR/USD pair has been subjected to profit-taking selling operations.

For three trading sessions in a row, the USD/JPY currency pair has been trying to correct upwards.

The EUR/JPY continues to challenge higher resistance levels.

The past five days of trading have begun to see a sustained value below the critical 20.00000 level for the USD/MXN.

The USD/INR remains within a rather steady price range, but late yesterday the Indian rupee displayed a sudden spike upwards which quickly reversed downwards.

The USD/SGD has had a rather wide range within values approximating 1.33100 to 1.34000 over the past five days of trading.

Germany continues to report over 20,000 new COVID-19 infections daily, but the ZEW economic sentiment indicator for December surged amid misplaced hopes that a vaccine will lead to a swift recovery.

New COVID-19 infections across South Africa continue to rise, and potential localized lockdowns may follow to contain the second wave of the pandemic.

Ambiguous bearish price channel.

Both nearby support and resistance levels look pivotal.

The euro initially tried to rally during the trading session on Thursday as we continue to see bullish pressure, but did give back some of the gains to show that perhaps gravity is coming back into vogue.