USDINR : The Rupee depreciated against the USD in yesterday's trading session to close at 46.53. Higher equities in the initial part of the session helped the currency to gain but concerns over the global economic recovery capped the upside in the currency. Rupee closing below its 21-Day EMA. 14-Day RSI is at 52 levels. For the day, support is seen at 46.40/46.20 whereas resistance is seen at 46.90/47.20.( USDINR 46.46) Neutral
EURUSD : The Euro gained against the dollar on Monday and managed to close above the crucial 1.50 mark. A late rally in stocks led to higher risk appetite in the financial markets and led to more demand for the European currency. Today the Eurozone is expected to announce data on Eurozone CPI and Italian Prelim CPI. The currency could come under pressure if risk aversion in the markets leads to lower demand for the high-yielding currency. For the day, support is seen at 1.4950/1.4820 whereas resistance is seen at 1.5080/1.5140. (EURUSD 1.5002) Neutral.
GBPUSD : The Sterling (GBP) was under pressure in Europe giving up most of the gains from the open in Asia as Data was weak and markets focused on weak UK banks. November Consumer Confidence at -17 vs. -13 previously. Temporary Support was found at 1.6400. Weekly support seen near 1.6150 levels from where short term buying can be expected. (GBPUSD - 1.6410) Bearish.
USDJPY : The Japanese Yen (JPY) found support of 84.80 levels and currently trading at 87.30 levels. Further upside correction till the strong cluster resistance of 87.50 levels (21 EMA Daily chart) is expected.(USDJPY 87.30) Bullish.
AUDUSD : AUDUSD is currently trading at 0.9132 levels, below 21 Days EMA of 9180 level in daily chart .A strong support seen near 0.9020 levels, if this support breaks and Aud trades below these 0.9020 levels (55Days EMA) then it can push further down to 0.8800 levels. (AUDUSD - 0.9132) Neutral.
Gold : Comex Gold February trades in a range this morning, as the market consolidates after the sharp move seen on Friday. The currency markets are likely to remain in focus. The recent rally in the precious metals can be attributed to strong investment demand and Dollar weakness. Expectations for central banks to make fresh purchases with a view to diversify their foreign exchange reserves are likely to help support the price in case of dips On intra day basis spot gold price have immediate support at $1159/$1145 where as resistance is seen at $1180 / $1198.(Gold - $1178) Bullish.
Dollar Index: The Dollar Index weakened on Monday as a rise in risk appetite yesterday led to lower demand for the safe- haven currency. The Dow Jones closed marginally higher yesterday but affected the movement in the currency. The US is expected to announce a host of economic data today. Weak data could trigger strength in the dollar as we could risk aversion in the financial markets. The Dollar Index (DX) weakened in yesterday's trading session to close at 74.82. It is trading below its 21 EMA. 14- Day RSI is at 44 levels. For the day, support is seen at 74.55/74.25 whereas resistance is seen at 75.05/75.30.(DI 74.90)Neutral