FX Daily Report : April 17, 2014
GFM Research | Apr 17, 2014 05:02AM ET
Market Commentary
The Dollar Index (DX) trading at 79.80 ranges with medium term support is seen at 79.00 ranges; Dollar weakness may extend on weekly close below 78.70 ranges else the medium term trend is still range bound between 79.00 and 81.40.
Cable is consistently trading above the five yearly resistance of 1.6820 ranges; weekly close above 1.3820 would create base for medium tern rally. Though the Common Currency is trading firm above critical support of 1.3790; 1.3920 may post important resistance.
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