The benchmark equity Index of the Dow Jones Industrials has sold off after reaching last year highs of 12850-12900. Historic correlation between DX Vs DJIA is signifying USD bearishness in long-term, only if 83.50 is given away on monthly closing basis; long-term bottom would be posted in the USD.
NYMEX Feb Crude is trading range bound between $101 and $98.00. Correlation between CLH2 and DJIA is again positive after witnessing inverse correlation during past 4-5 trading sessions; the major trend is intact till it manages to close consistently above $89.00 ranges on weekly basis, though short-term trend is signaling mild weakness.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3090 1.3125 1.3200 1.3250
USDJPY 75.70 76.50 76.90 77.30
GBPUSD 1.5630 1.5650 1.5720 1.5780
USDCHF 0.9060 0.9130 0.9220 0.9300
EURJPY 99.40 100.20 101.30 101.70
AUDUSD 1.0440 1.0530 1.0670 1.0720
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