EUR/USD: Euro is currently trading at 1.4495 levels after made high of 1.4538. The euro took a breath against the dollar with Greece looking to secure emergency fund. Looking ahead, June PMI Manufacturing forecast at 52.2. May Unemployment Rate forecast at 9.9%. Support is seen around 1.4346 levels (21 days daily EMA) while resistance is seen at 1.4550 levels. EUR/INR (64.65): Exporters can cover short term exposure at 64.80levels while importers can cover on dips near 64.00 and below. EUR/INR is likely to trade in the range of 64.38-64.80 levels today. Short term: Bearish. Medium term: Bearish.
GBP/USD: The Sterling is currently trading at 1.6037 levels. Next week's BOE meeting will potentially damage further if they increase the Asset Purchase Program as mentioned in the previous meeting minutes. Support is seen at 1.5980 levels (55days weekly EMA) and resistance is seen at 1.6228 levels (55 days daily EMA). GBP/INR (71.49) Exporters can cover short term exposure near 72.50 levels while the importers can wait to hedge near 71.00 levels and further dips. GBP/INR is likely to trade in the range of 71.32-71.68 levels today. Short term: Bearish. Medium term: Bearish.
USD/JPY: Yen is currently trading at 80.73 levels after made high of 81.27. Support is seen at 80.40levels while resistance is seen at 81.40 levels (100 days daily EMA). Yen Exporters are suggested to book exposure below 80.00 and Importers can cover above 81.50 levels. Outlook: Short term to medium term: Maintain Bearish for the pair.
AUD/USD: The Aussie is currently trading at 1.0697 levels. The Australian dollar weakened on dimmer prospects for exports after a Chinese manufacturing index fell. Support is seen at 1.0588 levels (21 days daily EMA) and resistance is seen at 1.0755 levels. Exporters are suggested to book exposure at current levels while Importers can cover partially their near term exposure at 1.0500 and further on dips. Short term: bearish. Medium term: Maintain neutral.
Gold: Gold is currently trading at 1500 levels with a low of USD$1498 and high of $1514. Support is seen at 1489 (100 days daily EMA) while resistance is seen at 1520.33 levels (21 days daily EMA). Outlook: Medium term Bullish.
Oil : Oil is currently trading at 94.68levels. Oil declined after making high of 95.70 as signs of slowing manufacturing growth in China and the U.S. Support is seen around 93.77levels while resistance is seen at 96.00 levels. Outlook: short term Bearish, Medium term neutral.
Dollar Index: DI is currently trading at 74.37 levels. U.S. jobless claims fell less than expected in the week ended, June 25 by 1,000 to 428,000. Looking ahead ISM Manufacturing PMI is expected weaker at 51.9 vs 53.5 previous. Support is seen at 73.75 levels and resistance is seen at 75.70 levels (21 days daily EMA). Outlook remains Bullish for Short Term and Medium Term: Bullish (Post June - July).
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.