The Dollar Index is approaching important support zone of 75.40-76.00, consistent close below 75.00 would resume long-term bearishness in the USD. Though 76.00 ranges are expected to again act important support in short term; historic resistance in the Dollar Index is seen in the ranges of 79.50 to 80.20 to 81.30.
The benchmark equity index of the Dow Jones Industrials has closed above historic resistance of 11600 ranges to trade currently at 11870 ranges; consistent close above 12000 would resume long-term bullishness in DJIA. Historic correlation between DJIA and DX is suggesting Greenback weakness though it may trade sideways for some time.
In NYMEX December Crude has closed above $90.00, which may be beginning of new rally targeting $95.00 ranges.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3820 1.3850 1.3980 1.4080
USDJPY – 76.00 77.40 78.00
GBPUSD 1.5840 1.5890 1.6060 1.6120
USDCHF 0.8840 0.8870 0.8885 0.8910
EURJPY 103.90 104.70 106.50 107.00
AUDUSD 1.0310 1.0390 1.0555 1.0625
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