With most of the asset classes especially the benchmark equity index of the Dow Jones traded sideways, resulting in the Dollar Index is trading sideways between 77.80 and 76.40. Immediate resistance in the Dollar Index is seen at 78.00 ranges. Historic congestion is seen at 79.80-80.40-81.20 ranges, which is expected to act as formidable resistance.
The benchmark equity index of the Dow Jones Industrials may trade sideways in the range of 11800 and 12200 with positive bias. Historic correlation between DX Vs DJIA is signifying USD bearishness though 73.40 ranges is expected to act as formidable support; only weekly close below 72.80 would reinitiate long-term USD bearishness.
NYMEX December Crude is trading at $95.40; historic congestion is seen in the ranges of $95.00 and $101.70.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3580 1.3650 1.3830 1.3890
USDJPY 77.50 77.80 79.10 80.20
GBPUSD 1.5920 1.5970 1.6100 1.6200
USDCHF 0.8840 0.8910 0.9120 0.9260
EURJPY 104.70 106.00 108.50 108.80
AUDUSD 1.0145 1.0200 1.0415 1.0530
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