The Dollar Index is trading firm at 81.89 above the short term resistance of 81.70; the medium term trend is still range bound between 81.30 and 84.50 ranges with wider swings seen between 80.60 and 85.00 ranges.
The benchmark equity index of the Dow Jones Industrials Average (DJIA) is trading flat at 15445 ranges; the major trend is still intact till DJIA manages to trade above 15300 ranges and may rise to 16100 ranges as it consistently closes above 15600 mark on daily basis else correction may be witnessed. Historic correlation between DX Vs DJIA suggests Dollar weakness till DX is not closing above 84.50 ranges on weekly basis though the historic correlation between DX Vs DJIA is getting less significant.
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