Technical Outlook:

EUR/USD: Euro is currently trading at 1.4197 levels. Euro collapsed drastically on Greece debt concerns and reshuffling of Greek Prime's Cabinet will lead to a negotiation of the terms of the country's rescue package. Support is seen around 1.4000 levels while resistance is seen at 1.4217 levels (100 days daily EMA). EUR/INR (63.66): Exporters can hold to cover short term exposure while importers can cover on dips near 63.00 levels. EUR/INR is likely to trade in the range of 63.35-63.90 levels today. Short term: Bearish. Medium term: Bearish.
GBP/USD: The Sterling is currently trading at 1.6218 levels. The pound fell versus the greenback after the data which showed U.K. jobless claims and Average Earnings Index 3m/y data came out weaker than expected. Support is seen at 1.6170 levels and resistance is seen around 1.6259 levels (100 days daily EMA). GBP/INR (72.67) Exporters can cover short term exposure near 74.00 levels while the importers can look to hedge partially at 72.00 levels. GBP/INR is likely to trade in the range of 72.40-72.95 levels today. Short term: Bearish. Medium term: Bearish.
AUD/USD: The AUD is currently trading at 1.0580 levels. The Australian fell against most of their major counterparts on worldwide weakness in stocks, damping demand for higher-yielding assets. Support is seen at 1.0475 levels (100 days daily EMA) and resistance is seen around 1.0639 levels (21 days daily EMA). Exporters are suggested to book exposure around 1.0750 levels while Importers can cover partially their near term exposure at 1.0500 and further on dips. Short term: Neutral to slight bearish. Medium term: Maintain Bullishness.
USD/JPY: The Yen is currently trading at 80.92 levels. The Japanese yen weakens as dollar trading stronger on board. Resistance is seen at 81.20 levels (55 days Daily EMA) while support is seen around 80.00. Yen Exporters are suggested to book exposure at 79.50 and Yen Importers can cover above 82.50 levels. Short term to medium term: Maintain Bearish for the pair.
Gold: Gold is currently trading at 1526.04 levels. Gold positive as Greek bailout talks stalled, boosting the appeal of the precious metal as a safe haven. Support is seen at 1508.91 (55 days daily EMA) while resistance is seen at 1532 levels. Outlook: Medium term Bullish.
Oil: Oil is currently trading at 95.49 levels. Oil collapsed over night on concerns that worsening Euro zone crisis will dampen the demand for crude oil. Support is seen at 94.99 levels while resistance is seen at 96.06 levels (200 days daily EMA). Outlook: short term slight Bearish, Medium term Bullish.
Dollar Index: DI is currently trading at 75.57 levels. Dollar is positive across the board as risk aversion take hold of the market following the worsening Greece crisis reducing demand for riskier assets. Support is seen at 75.03 levels (55 days daily EMA) and resistance is seen at 75.80 levels (100 days daily EMA). Outlook remains Neutral for Short Term and Medium Term: Bullish (Post July).

DISCLAIMER
These views/ forecasts/ suggestions, though proffered 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. Those acting in the market on the basis of these are themselves responsible for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.