US Dollar appreciated across the board on the event for profit taking in key index of Dow Jones Industrials (DJIA). Dollar Index (DX), March basis has hit critical resistance at 77.35 on NYBOT on March 10, 2011. DJIA vs DX correlation suggests further strengthening of the Greenback, though 11800 mark in case the key index and 77.80 in case of the Dollar Index have to be breached simultaneously to stimulate further strengthening of the Greenback. In spite of unrest in the middle east, Crude slipped more than a couple of dollars during intraday on NYMEX with May basis settling $1.5 lower at $103.92.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3712 1.3762 1.3860 1.3913
GBPUSD 1.5963 1.6017 1.6127 1.6177
USDCHF 0.9242 0.9290 0.9376 –
USDJPY 81.44 82.60 83.05 83.92
EURJPY 113.71 114.06 114.74 114.87
AUDUSD 0.9969 0.9954 1.0069 1.0095
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.