USDINR : The Rupee depreciated against the USD in Friday's trading session to close at 46.63. This could lead to further pressure on the indian rupee as concern over decline in capital inflows could lead to choppy domestic equity markets.Rupee closing below its 21-Day EMA.14-Day RSI is at 51 levels.For the day, support is seen at 46.35/46.30 whereas resistance is seen at 46.80/46.90. (USDINR 46.50). Bullish.
EURUSD : The Euro weakened 0.4% in the last week as risk aversion lead to lower demand for higher-yielding currencies. A decline in equities also put pressure on the currency. Strengthening in the dollar also hurt the upside in the currency.The Euro could bounce back today as expected positive economic data could boost appetite for higher-yielding currencies.For the day, support is seen at 1.4810/1.4755 whereas resistance is seen at 1.4940/1.5040. (EurUsd 1.4924). Cautious Bullish.
GBPUSD : GBP attampted to push low Friday's trading session of 1.6462 and a high of 1.6675 before closing the day at 1.6497 in the New York session. GBP has been trading in a range between 1.6455 to 1.6650 levels.(GBPUSD 1.6534).Rangebound.
USDJPY : USDJPY has being trading in 88.68 - 89.18 levels, moving not more that 100 pips so far. The stochastic is overbought. Crucial support is near 88.10 levels (recent low) and the crucial resistance of $90.90 levels (55 daily EMA). Either side breakout would determine the change in bias for the pair. Initiate buying around 88.10 levels keeping Stop loss 87.50 targeting 90.40. (USDJPY 88.81) Bullish.
AUDUSD : AUDUSD attempted to push lower on friday, finding support near 0.9060 levels below 21 Days Ema support area of 0.9190 levels. Daily stochastic are showing slight downside and if Aussie manages to hold crucial support of 0.9060 levels (Trend line Support) then it has the potential to re-test 0.9410 levels as well. Buying around 0.9060 - 9100 levels keeping stop loss below 0.9000 can be considered.(AUDUSD 0.9186) Bullish.
Gold : Gold december contract rallies to new all time high of $1164.80 per ounce this morning extending the 2.7% rally noted a week earlier .Volume and Open Interest is firm. Strong Support is seen at $1140 and second at $1118 level we advise buying on dips..(GOLD- $1163).Bullish.
Dollar Index : The Dollar Index strengthened 0.4% in the last week as risk aversion in the financial markets led to increased demand for the low-yielding currency as investors shunned higher-yielding and riskier investment assets. The Dollar Index (DX) gained in Friday's trading session to close at 75.60. It is trading below its 21-Day EMA. 14-Day RSI is at 53 levels. For the day, support is seen at 75.24/74.90 whereas resistance is seen at 75.91/76.23.(Dollar Index - 75.28) Neutral.