The Greenback strengthens across the board; U.S Dollar gained most against the Euro where as remained flat against the Aussie Dollar and the Cable; 74.40 is expected to act as critical support for Dollar Index (DXM11), only weekly close below 74.00 would result in continuation of bearish Greenback; on the higher side 76.50 ranges is expected to act as intermediate resistance. Weekly close above 76.50 would post short-term bottom in the Dollar Index.
Benchmark equity index of the Dow Jones Industrials (DJIA) is trending sideways with major support at 12200 and resistance at 12800; historic correlation between DX and DJIA suggests sideways trend in Dollar Index.
NYMEX Crude (CLN11) is trading range bound between $101.50 and $95.00; $95.00 ranges is expected to act as important support.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3865 1.4000 1.4163 1.4212
USDJPY 81.20 81.50 82.20 83.00
GBPUSD 1.6020 1.6160 1.6274 1.6310
USDCHF 0.8700 0.8750 0.8870 0.8900
EURJPY 113.00 114.30 115.90 116.20
AUDUSD 1.0410 1.0500 1.0610 1.0720
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