The Dollar Index (DXM11) taking resistance at 76.50 ranges is lower at 75.20 ranges; weekly close below 75.00 ranges would result in continuation of the long-term dollar weakness.
Benchmark equity index of the Dow Jones Industrials (DJIA) recovered smartly from the support zone of 12200 ranges, immediate resistance is seen at 12450 and major trend is expected to establish above 12600; historic correlation between DX and DJIA suggests sideways trend in Dollar Index with weaker Dollar.
NYMEX Crude (CLN11) is trading range bound between $105.00 and $95.00; $95.00 ranges is expected to act as important support and $102.70 is expected to act as immediate resistance.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.4040 1.4120 1.4310 1.4350
USDJPY 80.20 80.70 81.60 82.10
GBPUSD 1.6260 1.6330 1.6490 1.6580
USDCHF – 0.8550 0.8660 0.8720
EURJPY 114.60 115.10 116.50 117.00
AUDUSD 1.0580 1.0630 1.0750 1.0830
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