With the US Dollar's future feeling uncertain, attention seems to have turned towards Crude Oil following speculation that the Gulf States recently discussed dropping the USD for oil trading in exchange for a basket of currencies. While the rumor was denied later by Gulf State leaders and foreign ministers, the impact created a moment for pause in the market. As a result, many are now focusing their attention on today's Crude Oil Inventories report to find out where the relative level of demand for the commodity currently stands to gauge if these rumors have any substance behind them.

 EUR/USDGBP/USDUSD/JPYUSD/CHFAUD/USDEUR/GBP
Daily Trend

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Weekly Trend

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Resistance1.48001.598589.301.03500.90000.9350
1.47751.595089.001.03250.89750.9325
1.47501.591588.801.03000.89500.9300
Support1.46751.584088.251.02500.88850.9225
1.46501.581588.001.02250.88450.9200
1.46251.579587.701.02000.88100.9175