Key equity index, Dow Jones Industrials (DJIA) finds support again in the ranges of 11900 to gain smartly beyond 12200 mark to currently trade at 12612 ranges which is an intermediate resistance in the immediate resistance zone of 12550-12650; consistently trading above 12450 reinitiate long-term rally in DJIA. Historic correlation between DJIA Vs DX suggests the major trend is still bearish in the Dollar Index though short covering can be expected, especially against the Swiss Franc.
NYMEX August Crude closes firm above important resistance of $95.80 to currently trade at $97.71, consistently trading above $94.50 would post long-term bottom.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.4370 1.4400 1.4500 1.4550
USDJPY 80.00 80.50 81.20 81.50
GBPUSD 1.5870 1.5990 1.6100 1.6150
USDCHF 0.8300 0.8345 0.8440 0.8520
EURJPY 115.80 116.15 117.25 118.00
AUDUSD 1.0610 1.0650 1.0770 1.0835
GFM Research Private Limited
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