The Dollar traded flat amidst stable trading observed in most of the asset classes, especially in the equity markets across the World. The Dollar Index is range bound between 73.40-76.70 ranges; historic correlation between the Dollar Index (DX) and the Dow Jones Industrials (DJIA) suggests long term bearishness in the USD though short covering may be witnessed in near term. Since the Dollar Index is currently capped between 73.40 and 76.70 only weekly close on the either side would establish trend in the respective direction.
NYMEX October Crude after it sold off about 8% from $89.00 ranges to on Thursday, bounced off from $79.40 to find support in $81.00 region to currently trade at $85.15
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.4280 1.4380 1.4520 1.4670
USDJPY – 76.00 77.30 78.20
GBPUSD 1.6360 1.6430 1.6570 1.6600
USDCHF 0.7630 0.7750 0.8080 0.8190
EURJPY 109.00 109.50 110.90 111.30
AUDUSD 1.0320 1.0430 1.0550 1.0640
GFM Research Private Limited
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