Rupee : The Rupee appreciated against the USD in yesterday's trading session to close at 46.21. Rupee closing below its 21-Day 14- Day RSI is at 34 levels. For the day, support is seen at 46.15 whereas resistance is seen at 46.50/46.95.(USDINR - 46.44) Bullish.
Euro : The Euro gained against the dollar on Wednesday as a rise in risk appetite in the financial markets led to demand for higher yielding currencies and riskier investment assets. Economic data indicated that the current account seasonally adjusted for September showed a widened trade deficit to 5.4 billion euros from the revised prior surplus of 0.6 billion euros. The ECB President yesterday said that a strong dollar was in the interest of the whole international community. For the day, support is seen at 1.4778 whereas resistance is seen at 1.5015.(EurUsd- 1.4922).Cautious Bullish
Sterling : GBP fell from the highs of 1.6870 levels yesterday and tested our first target of 1.6690 levels. On the upside the resistance of 1.6870 still looks strong. Further correction till 1.66 levels (100 H4 moving average) and then till 1.6565(21 daily EMA) levels is expected. GBP important data of retail sales is due for the day which can bring further momentum in the Gbp/Usd. (GBPUSD 1.6705) Rangebound.
Yen : Yen is strongly trading below 21days EMA of 90.10 levels . The stochastic is overbought region ,immediate minor support is around 88.70 and mojor support is near 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).Bullish
Aud : AudUsd is currently trading at 0.9237 levels and is strongly trading above 21Days EMA in daily chart (0.9190 levels).Daily stochastic are showing slight downside and if Aussie manages to hold this support of 0.9190 levels ((38.2% Retracement (from 0.8915 to 0.9404) with 21 Days Ema in daily chart )) then it has the potential to re-test 0.9420 levels as well. Buying around 0.9190 - 0.9200 levels keeping stoploss 0.9080 can be considered.(AUDUSD 0.9245) Bullish.
Gold : Gold made yet another record high of $1152 levels yesterday but fell immediately to the current levels of $1140 levels (so far) .Further correction can be expected till $1132 levels. Strength in the US Dollar can be seen coming back in the nearest term if the important commodities which are over-bought currently, show significant correction. The slowdown in building up of the riskappetite is on the cards which took effect after the Bernanke's speech. Daily and weekly charts are highly over-bought presently (GOLD $1140).Rangebound.
Dollar Index : The Dollar Index (DX) weakened in yesterday's trading session to close at 75.05. It is trading below its 21-Day 14- Day RSI is at 45 levels.For the day, support is seen at 74.85/74.64 whereas resistance is seen at 75.32/75.58.(DI-75.24)Neutral