The US Dollar Index is entering historic congestion zone of 74.50-73.40 ranges; short covering may be witnessed in the USD against most of the FX majors. Only on consistent close below 73.00, would reinitiate long-term USD bearishness.
The benchmark equity index of the Dow Jones Industrials is trading near to major resistance zone of 12300-12400; profit taking may be witnessed in near term. Historic correlation between DJIA and DX is suggesting Greenback weakness though it may trade sideways for some time.
In NYMEX December Crude has hit short-term target of $95.00. Historic congestion is seen in the ranges of 95.00; wherein profit taking may be witnessed.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3880 1.3930 1.4080 1.4120
USDJPY 77.10 78.00 80.20 81.10
GBPUSD 1.5880 1.5960 1.6040 1.6120
USDCHF 0.8470 0.8520 0.8740 0.8820
EURJPY 107.00 108.60 111.70 112.80
AUDUSD 1.0400 1.0500 1.0720 1.0760
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