The Dollar Index succumbed to profit booking after hitting resistance zone of 79.50; historic resistance zone is seen in the ranges of 79.20 to 80.20 to 81.30 ranges.
Key equity index of the Dow Jones Industrials (DJIA) is again trading at 10600-10700 range which is a very important support zone; trading consistently below 10600 would result in further extension of fall towards 9700 ranges. Historic correlation between DJIA and DX suggests that 76.00 ranges would act as very important support.
NYMEX November Crude after testing support of $75.50 posted smart recovery to trade currently at $78.00; daily close above $80.20 would post short-term bottom whereas trading below $74.80 would pitch further sell off to $73.55.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3140 1.3220 1.3380 1.3485
USDJPY – 76.00 77.40 78.00
GBPUSD 1.5280 1.5380 1.5500 1.5525
USDCHF 0.9050 0.9100 0.9260 0.9330
EURJPY 100.70 101.10 102.80 104.20
AUDUSD 0.9340 0.9380 0.9620 0.9650
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