The US Dollar tumbles on the event of Greece bailout by the European Union. The Dollar Index closed below 76.00 to enter historic congestion zone of 74.50-73.40 ranges. Consistent close below 73.00 would reinitiated long-term USD bearishness.
The benchmark equity index of the Dow Jones Industrials has closed above historic resistance of 11600 ranges to trade currently above 12000; consistent close above 12000 would resume long-term bullishness in DJIA. Historic correlation between DJIA and DX is suggesting Greenback weakness though it may trade sideways for some time.
In NYMEX December Crude is approaching the short-term target of $95.00. Historic congestion is seen in the ranges of 95.00-101.20.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.4010 1.4100 1.4250 1.4510
USDJPY – 74.50 76.20 77.00
GBPUSD 1.5970 1.6030 1.6120 1.6200
USDCHF 0.8470 0.8520 0.8720 0.8820
EURJPY 105.70 106.60 108.60 109.00
AUDUSD 1.0460 1.0540 1.0750 1.0840
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