The US Dollar traded strong for most of the day; though it has trade strong though the Asian and European trading sessions, profit booking was witnessed during the American trading session on the event of the smart recovery posted in the key equity index of the Dow Jones Industrials (DJIA) and other assets
Key equity index, Dow Jones Industrials (DJIA) is expected to find in the zone of 12700-12800 which is historical congestion zone; consistently trading above 12400 reinitiate long-term rally in DJIA. Historic correlation between DJIA Vs DX suggests the major trend is still bearish in the Dollar Index though short covering can be expected; only weekly close above 76.70 in case of DXU11 would result in long term trend reversal in the US Dollar
NYMEX August Crude closed again above the key resistance of $95.70 to currently trade at $97.44, consistently trading above $94.00 would long-term bottom in CLQ11.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3850 1.3910 1.4060 1.4124
USDJPY 78.50 79.20 80.00 80.20
GBPUSD 1.5770 1.5862 1.5954 1.6000
USDCHF 0.8250 0.8280 0.8360 0.8440
EURJPY 108.80 109.90 112.40 113.30
AUDUSD 1.0450 1.0540 1.0660 1.0690
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