The benchmark equity index (.DJIA) is currently trading weak at 13320 ranges with immediate support seen at 13260-13280 ranges. Only daily close below 13170 would halt rally; though 2007 highs of 14000 ranges would act as major barrier.
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.
USDJPY Sideways 79.20 78.60 78.00 77.45
GBPUSD Sideways-Down 1.6140 1.6065 1.6020 1.5960
USDCHF Sideways 0.9440 0.9410 0.9295 0.9240
EURJPY Sideways 103.00 102.50 100.60 99.60
AUDUSD Sideways 1.0300 1.0265 1.0200 1.0160
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Note:
Economic Data Source: www.briefing.com
GMT- Greenwich Mean Time, ET-Eastern Time (U.S), IST-Indian Standard Time
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