Dollar Index (DX) finds resistance near 81.00 ranges

by Admin

Market Commentary

The US Dollar traded mixed wherein it has depreciated against the Euro and the Aussie but continued to appreciate against the Sterling and the Japanese Yen. Dollar Index (DX) finds resistance near 81.00 ranges; further appreciation is expected only above 81.20 which is acting as medium term resistance.

The benchmark equity index (.DJIA) is trading consistently above the psychological resistance of 14000 with 14200 ranges being historic high acting as important barrier.

Historic correlation between DX Vs DJIA suggests the long-term trend is still dollar bearish till the Dollar Index is not closing above 84.50 on monthly basis.

Up 1.3510 1.3460 1.3360 1.3300
Sideways-Up 94.50 94.00 93.40 92.70
Sideways-Down 1.5520 1.5480 1.5420 1.5360
Sideways-Down 0.9260 0.9220 0.9180 0.9150
Sideways-Up 127.20 126.20 125.00 124.60
Sideways-Up 1.0410 1.0370 1.0330 1.0300