The US Dollar Index appreciates on the event of sell of seen in the equity bourses across the world. The Dollar Index is heading towards the support of 73.40-74.00 ranges; historic correlation between the Dollar Index (DX) and the Dow Jones Industrials (DJIA) suggests long term bearishness in the USD though short covering may be witnessed in near term.
The Dollar Index is currently capped between 73.40 and 76.70 only weekly close on the either side would establish trend in the respective direction.
Taking queues from the Dow NYMEX October Crude has hit lows of $76.20 to recover beyond $80.00 to currently trade at $84.22.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.4060 1.4135 1.4400 1.4510
USDJPY – 76.00 77.50 78.20
GBPUSD 1.6050 1.6080 1.6220 1.6330
USDCHF 0.7180 0.7210 0.7440 0.7500
EURJPY 106.40 107.20 110.00 110.80
AUDUSD 0.9970 1.0100 1.0390 1.0470
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