Historic correlation between DX Vs DJIA suggests the long-term trend is still dollar bearish till the Dollar Index is not closing above 84.50 on monthly basis. Even the medium term trend has turned bearish after the Dollar Index breached 81.00 ranges though 79.50-80.00 ranges would act a interim support.
NYMEX Crude trading flat at $96.25. The short-term trend is range bound between $94.00 and $98.00; daily close above $98.40 would open door towards $102.00.
FX Pair Trend Resistance 2 Resistance 1 Support 1 Support 2
EURUSD Sideways-Up 1.2980 1.2820 1.2720 1.2660
USDJPY Sideways-Down 79.00 78.40 78.00 77.80
GBPUSD Sideways-Up 1.6060 1.6030 1.5960 1.5900
USDCHF Sideways-Down 0.9580 0.9510 0.9420 0.9380
EURJPY Sideways-Up 101.60 101.00 99.30 99.00
AUDUSD Up 1.0410 1.0360 1.0300 1.0270
GFM Research Private Limited
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