The Dollar Index has found support at 78.10 ranges to currently trade at 78.90 ranges; the short term trend is sideways between 79.80 and 78.40. The benchmark equity index of the Dow Jones Industrials is currently trading sideways between 12880 and 13050 ranges, forcing the Greenback to trade sideways.
Historic correlation between DX Vs DJIA suggests the short-term and medium-term trend being sideways where as the long-term trend is still dollar bearish till the Dollar Index is not closing above 83.50 on monthly basis.
NYMEX Crude after hitting $110 is currently trading at $108.50 ranges. Historic congestion is seen at $110.00 ranges and support is at $104.20 ranges.
FX Pair Trend Resistance 2 Resistance 1 Support 1 Support 2
EURUSD Sideways-up 1.3410 1.3365 1.3277 1.3255
USDJPY Up 82.00 81.50 81.00 80.70
GBPUSD Sideways-up 1.6070 1.5980 1.5910 1.5890
USDCHF Sideways 0.9220 0.9080 0.9045 0.9020
EURJPY Up 108.80 108.45 107.90 107.50
AUDUSD Sideways 1.0915 1.0830 1.0760 1.0748
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