The US Dollar traded mixed amidst huge sell in most of the asset classes; after the intervention in the Swiss Franc, BoJ has intervened to weaken the Japanese Yen. The Dollar Index again took support in the ranges of 73.40-74.0.0 historic correlation between the Dollar Index (DX) and the Dow Jones Industrials (DJIA) suggests long term bearishness in the USD though short covering may be witnessed in near term.
The Dollar Index is currently capped between 73.40 and 76.70 only weekly close on the either side would establish trend in the respective direction.
Taking queues from the weaker economic recovery across the world, NYMEX Crude October basis tumbled to test another important support of $83.40 range to currently trade at $86.80
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3950 1.4050 1.4180 1.4280
USDJPY 77.50 78.10 80.20 81.70
GBPUSD 1.6175 1.6230 1.6320 1.6350
USDCHF 0.7600 0.7660 0.7810 0.7840
EURJPY 109.70 110.60 114.00 114.80
AUDUSD 1.0350 1.0400 1.0524 1.0625
For trading calls, contact us at
+91-40-40268383
support@gfmresearch.com
www.gfmresearch.com
Disclaimer: This report contains the views of GFM Research Private Limited. This report should not be construed as investment/trading advice. Due care is taken when gathering the data/information and the data sources are believed to be reliable, though GFM Research Private Limited nor its Group Companies guarantee for the same. Trading/investing in financial markets may result in financial and/or emotional stress, a trader/investor is advised to weigh pros and cons of trading/investing. Further disclaimer will be produced on request.