The Dollar Index is trading flat amidst stable trading observed in most of the asset classes, especially in the equity markets across the World. The Dollar Index is range bound between 73.40-74.50 ranges in the short-term and the medium term range is capped between 73.40-76.70; 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. Since 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.
NYMEX Crude, October basis is range bound between $83.20 and $87.00, either side breakout would establish trend.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.4300 1.4380 1.4520 1.4670
USDJPY 76.00 76.40 77.30 78.20
GBPUSD 1.6220 1.6250 1.6350 1.6400
USDCHF 0.7630 0.7750 0.8080 0.8190
EURJPY 109.50 110.30 112.00 113.30
AUDUSD 1.0320 1.0430 1.0550 1.0640
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