Rupee : The Rupee depreciated against the USD in yesterday's trading session to close at 46.31. Rupee closing below its 21-Day EMA. and 14-Day RSI is at 35 levels.For the day, support is seen at 46.15/45.98 whereas resistance is seen at 46.35/46.45.(USDINR 46.23).Bullish
Euro : The Euro retreated from its highs on Tuesday as risk aversion in the financial markets lowered demand for higher-yielding and riskier investment assets. European equities traded lower and overall risk sentiment remained under pressure.The ECB President Trichet is expected to give his speech today. Any positive comment over the progress of the economic recovery could boost the Euro today.The Euro weakened against the dollar in yesterday's trading session to close at 1.4873.For the day,support is seen at 1.4786/ whereas resistance is seen at 1.4980.(EurUsd 1.4891) Cautious Bullish.
Sterling : GBP retested the highs of 1.6870 levels yesterday, however immediately came down to test the lows of 1.6754 levels. Currently it is trying to consolidate below the 100 day Weekly moving average resistance of 1.6880. On the upside if this resistance is broken then the next target is of 1.70 levels. Short-term Selling near these resistance levels with a stoploss can be considered. Correction is expected till initial target of 1.6690 levels and then 1.6850 levels. (GBPUSD 1.6805) Neutral to Rangebound.
Yen : Yen did not show much movement in yesterday's session.Yen is trading below 21days EMA of 90.10 levels 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 89.17).Bullish.
AUD : AusUsd is currently trading at 0.9286 levels and is strongly trading above 21Days EMA in daily chart (0.9195 levels).Daily stochastic are showing slight downside and if Aussie manages to hold this support of 0.9190 levels then it has the potential to re-test 0.9420 levels as well. Buying around 0.9190 - 0.9200 levels keeping stoploss 0.9110 can be considered.(AUDUSD 0.9285) Bullish.
Gold : Gold retested the highs of $1143 levels again and correction in gold can be expected till $1118 levels on the back of resuming strength in the greenback after the Bernanke's speech. Cautious buying near the minor support of $1118 levels can be expected for short-term traders. Daily and weekly charts are highly over-bought at present and downside correction should be on the cards. (GOLD $1138).Bullish.
Dollar Index : The Dollar Index rebounded on Tuesday and was off the 15-month lows of the previous session after Federal Reserve Chairman Ben Bernanke said the US central bank was attentive to implications of changes in the value of the dollar. Risk aversion in the financial markets increased demand for the low-yielding dollar. But equities gained marginally in the US and fell in Asia and Europe. The Dollar Index (DX) weakened in yesterday's trading session to close at 75.28. It is trading below its 21-Day 14- Day RSI is at 45 levels.For the day, support is seen at 74.85/74.42 whereas resistance is seen at 75.66/76.04.(Dollar Index - 75.25)Neutral.