EUR/USD: Euro is currently trading at 1.4223. Euro tumbled after poor Spain auction results. Spanish Treasury sold EUR 3b of 12-month bills and 1.2b of 18-month bills today. Looking ahead German Flash Manufacturing PMI is expected weak and Current Account data is expected weak. Immediate Support comes near 1.4153 levels (the 200 days 4hrly EMA) while Immediate Resistance is seen around 1.4297 levels (100 days 4hrly EMA).EUR/INR (63.44 ) Exporters can cover at 63.64 levels for April exposure while importers can cover below 63.00 levels and further on dips. EUR/INR is likely to trade in the range of 63.20 - 63.70 levels today. Short term: Bullish and Medium term: Maintain Bullishness.
GBP/USD: The Sterling is currently trading at 1.6246 levels. Support is seen near 1.6163 (55 days daily EMA) and Immediate resistance is comes near 1.6281 (55 days 4 hrly EMA). GBP/INR (72.50) exporters should cover near 72.70 regions and short term importers can cover near 72.00 levels and further on dips. GBPINR is likely to trade in the range of 72.30 to 72.75 levels. Short Term: Bullish and Medium term: Maintain bullishness.
USD/JPY: The pair is currently trading near 82.52 levels. The yen pair weakened against dollar and Japanese bond futures rose after Standard & Poor's changed its credit outlook on the U.S. to negative.Strong Resistance is seen near 83.01 (4hrly 200 days EMA) while Support is seen near 81.80.Yen Exporters are suggested to book exposure near 81.50-82.00 levels and Yen Importers can cover above 84 levels. Short term: Bullish for the pair.
AUD/USD: Australian Dollar is currently trading at 1.0520 levels. Aud fell for a second day straight against the dollar after RBA reported today in its minutes that the economic growth in Australia is moderate during the first three months of the year. Near term support is seen at 1.0408 levels (21 days EMA) Resistance is seen at 1.0512 levels (4hrly 21 days EMA). Exporters are suggested to book exposure near 1.0500 levels while Importers can cover their exposure near 1.0300 regions. Short Term: Bullish Medium term: Maintain Bullishness.
Gold: Gold is trading at 1489.58 levels. Gold gained as Standard & Poor's cut the U.S. long-term credit outlook to negative creating demands for safer heavens. Resistance is seen near 1500 levels while on the downside, buying is expected near support at 1478.89 levels (21 days daily EMA). Gold seems to be in super bull phase. Medium term: Bullish.
Oil: Crude oil is currently trading at $107.34 per barrel . Oil traded low as signs of a worsening economic outlook after Standard & Poor's cut the U.S. long-term credit outlook to negative fueling the speculation that oil demand may falter , but unrest across Middle East nations would still spur oil prices to new highs. Resistance is seen near 108.03 levels (21 days 4 hrly EMA) and Support is seen near 107.13. Short term to Medium term : Maintain Bullishness.
Dollar Index: Dollar Index is trading at 75.13 levels.Support is seen near 75.22 levels (55 days 4hrly EMA)and Resistance is seen near 76.46 (55 days EMA) . Outlook remains bearish for Short Term and Medium Term: Bullish (Post July). interest rate. Immediate resistance is seen near 76.10 levels with psychological support at 75.50levels. Term: Bearish and Medium Term: Bullish (Jun-July).