The Dollar Index is trading at 81.25 ranges still hovering around the short term resistance of 81.00-81.20 from where it sold off during September last. The benchmark equity index (.DJIA) is trading at 12760 after slipping below the critical support of 12980 with 12450-12500 ranges acting as medium term support and 12980 acting as short term resistance. Only daily close below 12400 would result in further sell off.
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 1.2855 1.2810 1.2710 1.2660
USDJPY Sideways-Up 82.80 82.30 81.50 81.00
GBPUSD Sideways 1.5980 1.5940 1.5880 1.5830
USDCHF Sideways 0.9540 0.9490 0.9390 0.9360
EURJPY Sideways-Up 105.60 105.00 103.80 103.10
AUDUSD Sideways-Up 1.0530 1.0440 1.0330 1.0280
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