Correction in the benchmark equity index of the Dow Jones Industrials propels the Greenback. Immediate resistance in the Dollar Index is seen at 78.00 ranges. Historic congestion is seen at 79.80-80.40-81.20 ranges
The benchmark equity index of the Dow Jones Industrials continued correction to test important support of 11600 ranges; consistent close above 12000 ranges would reinitiate bull trend to test calendar year highs. Historic correlation between DJIA and DX is suggesting Greenback weakness though it may trade sideways for some time.
In NYMEX December Crude continued correction to find support at $89.20 ranges and is currently trading at $91.50 ranges. Short-term trend remains sideways capped between $89.00 and $95.00.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3580 1.3650 1.3790 1.3870
USDJPY 77.50 77.80 79.10 80.20
GBPUSD 1.5750 1.5850 1.5980 1.6030
USDCHF 0.8700 0.8750 0.8930 0.9020
EURJPY 104.70 105.70 107.80 108.80
AUDUSD 1.0145 1.0200 1.0400 1.0530
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