Rupee is expected to move close to 48.20-30 levels (slight weak) since dollar maintains momentum in international market.We would consider it as an opportunity to initiate short dollar positions.The Indian stocks has been relatively weak from the last few trading sessions. Please note if the dollar momentum continues and Indian stocks sell off pushes rupee above 48.60 we would consider medium term weakness to resume till then rupee maintains stronger bias. Neutral (USD/INR : 48.14)

Euro is holding below its immediate resistance at 1.4220 levels since last 3 trading sessions. Immediate term bias remains bearish for target of 1.4007 . Only a break and close above 1.43 would make the outlook bullish..Slight Bearish (EUR/USD 1.4145)

Cable showed both sides move post non farm payroll ending the US Session on a weaker note close to 1.6660 levels. It has shown a shooting star bearish pattern taking resistance from the 100 day Weekly resistance at around 1.7060 levels. It maintained its weakness on Monday and Tuesday and unable to cross 1.6750 and went to to low of 1.6429 levels . Current bias shifts to bearishness and a break of 1.6250-6300 (weekly trendline& 55 day EMA) would confirm a trend reversal for the pair and target 1.58 again. (GBP/USD 1.6480) .Slight Bearish

Yen broke the weekly trendline of 95.40 after a long phase of consolidation . Expect the levels to act as an important support now and target 99 levels in medium term. (USD/JPY 95.44) Bearish

Aud seems to be entering into correction mode lately .We have started witnessing sell off in commodity prices . It is bullish until we see a break below 0.7950. (AUD/USD -0.8245) In Correction Mode

Gold has also seen correction lately. Bullish only above 960 dollar otherwise rangebound. (Gold- $946.27). Rangebound

The Dollar Index (basket against 6 currencies with EUR accounting for 57% of the basket) rebounded close to 77 levels. Expect retracement till 80 levels.Closing above 82 levels would change the bias of the index. (Dollar Index - 79.10) Neutral.

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DISCLAIMER These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy.