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 has found support at $89.00 ranges and is currently trading firm at $92.30 ranges. Short term trend is sideways with $87.15 ranges acting as key support and $94.10 range acting as resistance.
FX Pair Trend Resistance 2 Resistance 1 Support 1 Support 2
EURUSD Sideways-Up 1.3000 1.2970 1.2910 1.2880
USDJPY Sideways 78.10 77.80 77.30 77.00
GBPUSD Sideways-Up 1.6360 1.6280 1.6220 1.6190
USDCHF Sideways-Down 0.9420 0.9380 0.9330 0.9270
EURJPY Sideways 101.00 100.45 99.50 99.20
AUDUSD Sideways-Up 1.0590 1.0540 1.0410 1.0380
GFM Research Private Limited
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