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 and with immediate support seen in 78.70-78.20 ranges.
NYMEX Crude trading weak at $91.10, unable to sustain above $93.20 ranges. Short term trend is weak and may test $87.15 ranges with $94.10 range still acting as resistance.
FX Pair Trend Resistance 2 Resistance 1 Support 1 Support 2
EURUSD Sideways-Down 1.3000 1.2980 1.2840 1.2745
USDJPY Sideways-Down 78.40 78.00 77.50 77.00
GBPUSD Sideways-Down 1.6230 1.6210 1.6130 1.6070
USDCHF Sideways-Up 0.9430 0.9410 0.9330 0.9300
EURJPY Sideways-Down 101.00 100.30 99.60 99.20
AUDUSD Sideways-Down 1.0430 1.0370 1.0330 1.0300
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