The US Dollar is trading flat after finding support at 81.20 with 82.00-82.30 being interim resistances. Further weakening of the Greenback is expected only on daily close below 81.00 ranges. The benchmark equity index of Dow Jones Industrials (.DJIA) is currently trading at 13096 ranges with 13200-13300 still acting as critical resistance zone.
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 84.50 on monthly basis.
NYMEX Crude is trading weak after slipping again from $97.50 ranges to currently trade at $95.35 ranges. Historic resistance is seen in the ranges of $98.20 ranges, further rally to $102 ranges can be expected on daily close above $98.40 else correction to $94.20 can be expected.
FX Pair Trend Resistance 2 Resistance 1 Support 1 Support 2
EURUSD Sideways-Down 1.2570 1.2510 1.2440 1.2370
USDJPY Down 78.90 78.60 78.30 77.80
GBPUSD Sideways-Down 1.5880 1.5820 1.5740 1.5690
USDCHF Sideways-Up 0.9710 0.9650 0.9590 0.9540
EURJPY Down 99.00 98.60 97.40 96.80
AUDUSD Sideways-Down 1.0450 1.0410 1.0320 1.0285
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