US Dollar appreciated across the board on the event for profit taking in key index of Dow Jones Industrials (DJIA). November, 2010 lows of 75.75 is expected to act as key support for Dollar Index (DX), March basis. DJIA vs DX correlation suggests further strengthening of the Greenback, though 11700 mark in case the key index and 77.50 in case of the Dollar Index have to be breached simultaneously to stimulate further strengthening of the Greenback. We are expecting short-term top being posted in AUDUSD, though daily close below 0.9970 would increase our conviction. Japanese Yen is expected to remain volatile against the Greenback.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3815 1.3888 1.3988 1.4010
GBPUSD 1.6063 1.6087 1.6188 1.6220
USDCHF 0.9190 0.9223 0.9282 0.9330
USDJPY 80.44 81.14 82.17 82.60
EURJPY 112.11 113.00 114.54 115.40
AUDUSD 0.9707 0.9878 1.0031 1.0100
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