The US Dollar after correcting from 84.20 ranges since couple of weeks is currently trading flat after finding support at the interim support of 81.20 ranges. Further weakening of the Greenback is expected only on daily close below 81.00 ranges. The benchmark equity index of Dow Jones Industrials (.DJIA) is currently trading at 13160 ranges with 13200-13300 still acting as critical resistance zone.
Historic correlation between DX Vs DJIA suggests the short-term and medium-term trend being sideways where as the long-term trend is still dollar bearish till the Dollar Index is not closing above 84.50 on monthly basis.
NYMEX Crude is trading firm at $97.10 ranges. Historic resistance is seen in the ranges of $98.20 ranges, further rally to $102 ranges can be expected on daily close above $98.40
EURUSD Sideways 1.2625 1.2560 1.2485 1.2450
USDJPY Down 79.20 78.90 78.30 77.80
GBPUSD Sideways-Down 1.5920 1.5870 1.5770 1.5690
USDCHF Sideways-Up 0.9710 0.9650 0.9550 0.9420
EURJPY Sideways-Down 99.20 98.80 97.30 96.80
AUDUSD Sideways-Down 1.0450 1.0410 1.0320 1.0285
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