The Greenback continued to trade firm against most of the FX majors on the event of continued correction in the prices of most of the asset classes especially the equities. Double dip depression in the US is still glooming resulting in battering of most of the asset classes especially the equities.
Key equity index of the Dow Jones Industrials (DJIA) is expected to find support at 10700; whereas trading consistently below 10700 would result in further extension of fall towards 9700 ranges. Historic correlation between DJIA and DX suggests further strengthening on the Dollar to 78.75-79.30 ranges
NYMEX November Crude appreciated sharply off the day’s lows of $88 ranges to close firm at $90.28; it seems to be heading towards $91.00 which happens to be major resistance.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3490 1.3550 1.3710 1.3770
USDJPY 76.00 76.30 77.60 78.20
GBPUSD – 1.5680 1.5770 1.5860
USDCHF 0.8710 0.8770 0.8960 0.9050
EURJPY – 103.80 105.80 106.60
AUDUSD 1.0020 1.0145 1.0380 1.0400
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