Rupee : The Rupee depreciated slightly against the USD in yesterday's trading session to close at 46.21. USD/INR is forming a double bottom pattern near 45.80 levels. It is currently trading at 46.20 levels. Further upside gains are expected till the cluster resistance of 46.49 levels (21 EMA in Daily chart). Daily stochastic is showing Flat(USDINR - 46.23)
Euro : The Euro advanced against the dollar on Monday as a rise in risk appetite led the currency higher. Also sharp weakness in the currency was seen, after touching a high of 1.5015 to close below the crucial level of 1.50 mark yesterday. It continues to struggle around this crucial level and further boost in risk appetite could take the currency higher. The Euro will take cues from the risk sentiments in the financial markets. We could witness slight weakness in the Euro today.For the day, support is seen at 1.4905/1.4825 whereas resistance is seen at 1.5050/1.5120.(EURUSD -1.4960)
Sterling : GBP is headed towards the expected high of 1.6850 levels and also moved higher after the speech given by Ben Bernanke. Currently it is trading below the 1.6842 resistance which if broken again can lead the pair to the next target of 1.70 levels. Short- term Selling near these resistance levels with a stoploss can be considered. Initial support in Gbp is seen at 1.6580 levels(21 daily EMA) .(GBPUSD 1.6809).
Yen : Yen could not break the 21 day EMA of 90.33 levels and trading below since last 2-3 trading session . The charts are still showing a downside in yen and can lead the Usd/Jpy pair to the immediate support of around 88.10 levels(recent low). The resistance of $90.90 levels (55 daily EMA) is crucial for yen to determine the change in bias for the pair. Initiate buying around 88.10 levels keeping stoploss 87.50 targeting 90.40 (UsdJpy 89.07).
AUD : AudUsd tested the highs of 0.9403 yesterday and is still holding strong above 0.9320(21 4-hourly) levels. Daily stochastic are showing slight downside and if Aussie manages to hold this support of 0.9320 levels then it has the potential to test 0.9420 - 0.9500 levels as well. (Aud/Usd - 0.9334).
Gold : Gold made yet another record high of $1143 levels last night and is trading firm due to the continued dollar weakness overseas. As far as the support of $1101 levels holds good, the bias in Gold would remain bullish. The major stochastics are over-bought. Cautious accumulation near the minor support of $1120 can be expected.(GOLD $1136).
Dollar Index : The Dollar Index (DX) weakened in yesterday's trading session to close at 74.91. It is trading below its 21-Day EMA. 14-Day RSI is at 38 levels.For the day, support is seen at 74.60/ whereas resistance is seen at 75.25/75.60.( Dollar Index 74.98)