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
For trading calls, contact us at
+91-40-40268383
[email protected]
www.gfmresearch.com
Disclaimer: This report contains the views of GFM Research Private Limited. This report should not be construed as investment/trading advice. Due care is taken when gathering the data/information and the data sources are believed to be reliable, though GFM Research Private Limited nor its Group Companies guarantee for the same. Trading/investing in financial markets may result in financial and/or emotional stress, a trader/investor is advised to weigh pros and cons of trading/investing. Further disclaimer will be produced on request.