With the benchmark equity index trading soft the, US Dollar continued appreciating across the board; the Common Currency has lost most against the Greenback as compared to other currencies followed by the Cable. The medium trend is bullish till 77.50 ranges are holding on weekly closing basis, though 81.40 ranges would act as formidable resistance. Historic congestion is seen in the ranges of 79.50-80.70-81.20.
The benchmark equity index of the Dow Jones has managed to close above 12380 ranges making 12300 as the short-term support. Historic correlation between DX Vs DJIA is signifying USD bearishness in long-term, but if 81.40 is given away on monthly closing basis; long-term bottom would be posted in the USD.
NYMEX Feb Crude has succumbed to profit taking after making a high of 103.90 ranges; till 101.70 ranges hold on daily closing basis it is poised to test 104.10 ranges but it seems the bullish momentum is loosing at current ranges.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.2690 1.2750 1.2810 1.2890
USDJPY 76.30 76.90 77.40 77.65
GBPUSD 1.5505 1.5580 1.5660 1.5720
USDCHF 0.9140 0.9260 0.9470 0.9520
EURJPY 98.00 98.75 99.50 99.80
AUDUSD 1.0200 1.0270 1.0410 1.0450
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