Despite weakness in the benchmark equity index of Dow Industrials (.DJIA), resilience was seen in the appreciation of the Greenback against most of the FX majors. The Dollar Index may again expected to find resistance at 81.00 ranges from where is sold off during September last.
The benchmark equity index (.DJIA) after slipping below the critical support of 12980 again sold off to currently trade at 12862; 12800 ranges may act as important support for near term, slipping below 12800 ranges drag market to the medium term major support of 12600 ranges.
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.
FX Pair Trend Resistance 2 Resistance 1 Support 1 Support 2
EURUSD Sideways 1.2860 1.2810 1.2710 1.2680
USDJPY Sideways 80.00 79.70 79.20 78.90
GBPUSD Sideways 1.6130 1.6030 1.5980 1.5940
USDCHF Sideways 0.9530 0.9470 0.9330 0.9220
EURJPY Sideways 102.50 102.00 100.50 100.00
AUDUSD Sideways 1.0540 1.0450 1.0350 1.0320
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