Daily FX perspective November 19, 2012 – GFM Research

The Dollar Index is trading at 81.25 with 81.00-81.20 ranges still acting as short term resistance from where is sold off during September last.

The benchmark equity index (.DJIA) after slipping below the critical support of 12980 continued to sell off to currently trade at 12630 ranges; 12450-12500 may act as medium term support.

Historic correlation between DX Vs DJIA suggests the long-term trend is still dollar bearish till the Dollar Index is not closing above 84.50 on monthly basis.

FX Pair     Trend                 Resistance 2    Resistance 1    Support 1    Support 2

EURUSD    Sideways                      1.2855             1.2810           1.2710          1.2680
USDJPY    Sideways-Up                   81.80               81.60             80.70            80.00
GBPUSD    Sideways                      1.5980             1.5940           1.5870          1.5830
USDCHF    Sideways                      0.9540             0.9490           0.9390          0.9360
EURJPY    Sideways-Up                  105.40             104.50           102.80          102.10
AUDUSD    Sideways                     1.0440             1.0390            1.0330         1.0290

GFM Research Private Limited

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