The Dollar Index (DXU11) breaks out of the trading range 75.40/74.60 established during couple of days; DXU11 breaks out above 75.40 to post smart recovery to currently trade at 76.35 on the event of weaker equity bourses and other asset classes across the globe.
Key equity index, Dow Jones Industrials (DJIA) has broken important trend line support at 12200 ranges on Friday, June 03,2011 to currently trade at 12055 ranges; 11600-11700 ranges is expected to act as final support for DJIA. Historic correlation between DJIA Vs DX suggests sideways stronger USD for few trading session till the Dow takes support at 11600 ranges.
NYMEX July Crude closed below important support of $95.00 to currently trade at 94.96, consistent close below $95.00 would trigger sell off to $91.00 ranges.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3920 1.4070 1.4310 1.4385
USDJPY 80.20 80.50 81.80 82.30
GBPUSD 1.6050 1.6100 1.6220 1.6260
USDCHF 0.8435 0.8460 0.8555 0.8620
EURJPY 112.00 113.45 115.20 115.50
AUDUSD 1.0430 1.0480 1.0580 1.0620
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