USDINR    :   Currency will continue to take cues from the movement in equities and we expect the Rupee to appreciate. Weakness in the Dollar Index could also help support the upside in the Rupee. For the day, support is seen at 46.10/45.90 whereas resistance is seen at 46.48/46.64. (USDINR 46.18).Bullish.

EURUSD    :  The Euro continued to rise on Tuesday and closed above the crucial 1.50 mark yesterday as a rise in risk appetite boosted demand for the higher-yielding currency. Eurozone unemployment remained stable at an 11-year high in October. Unemployment in the 16-country area stood at 9.8% of the total workforce. But further rise in unemployment in the Eurozone is currently being limited to some extent by government jobs report. Weakness in the dollar would also support upside in the currency. For the day, support is seen at 1.4990/1.4910 whereas resistance is seen at 1.5140/1.5210.(EURUSD -1.5090) Cautious Bullish.

GBPUSD   :  The Sterling (GBP) rose to the highs of 1.6647 yesterday in the US session and is currently facing the same resistance (61% Fibonacci and trend line resistance) near 1.6640 levels. Selling around these levels can be expected for the initial target of 1.6560 (cluster support) and then 1.6450(55 daily EMA) .(GBPUSD - 1.6597) Neutral to Bearish.

USDJPY    : The Japanese Yen (JPY) took the expected resistance of 87.50 - 87.55 levels yesterday and from where it is now trading at 86.95 levels. Now support is seen at 86.75 - 86.80 levels (21 EMA H4 chart) where some short-term buying can be expected. (USDJPY 86.95) Bullish.

AUDUSD     :  AUDUSD is currently trading at 0.9282 levels. A minor support seen near 0.9200 levels(21Days EMA ) and crucial support at 0.9030 levels (55Days EMA) ,if breaks 0.9020 support and trades below this levels then it can push further down to 0.8800 levels. Initiate shorts near 0.9330 levels keeping stop loss 0.9410. (AUDUSD - 0.9282) Neutral.

Gold           : Gold has resumed backed to its upward trend after the small correction seen last week. It is making yet another high each day and has breached the psychological levels of $1200. After UAE central bank showed support, investors' are back on ground and notice the real value of the gold. Gold usually shines during economic or sovereign instability, as investors seek the safe investment and thus proving gold to be a good choice besides USD. (Gold - $1214) Bullish.

Dollar Index: The Dollar Index weakened yesterday as a rise in risk appetite decreased demand for the low-yielding currency. The currency fell as an unexpected rise in pending home sales and fading concerns about Dubai's debt default boosted demand for higher-yielding assets. The dollar could remain under pressure if risk appetite continues to remain stronger. Until US interest rates remain low, we do not expect to see a sharp bounce back in the Dollar Index. The Dollar Index (DX) closed at 74.44 yesterday below its 21-Day EMA. 14- Day RSI is at 35 levels. For the day, support is seen at 74.10/73.80 whereas resistance is seen at 74.95/75.40. (Dollar Index 75.40).Neutral