EUR/USD: Euro is currently trading at 1.4051 levels. The Euro slid against the dollar on speculation that Europe's debt crisis will weigh on global growth slumping industrial expansion. ahead today both the German info Business Climate and Industrial new orders m/m are expected to be weak. Support is seen at 1.4000 while resistance is seen at 1.4111 (55 days daily EMA). EUR/INR (63.55) Exporters can cover short term exposure at 64.00 levels while importers can cover on dips towards 63.25 levels. EUR/INR is likely to trade in the range of 63.30-63.80 levels today. Short Term: Neutral to bearish, Long term: Maintain Bullishness.
GBP/USD: The Sterling is currently trading at 1.6114 levels. The pound slumped against the dollar as falling stock markets boosted demand for safer assets. Strong support is seen at 1.6034 levels (200 days daily EMA) while resistance is seen at 1.6292 levels (55 days daily EMA). GBP/INR (72.70) Exporters can cover May exposure on 73.50 onwards while the importers can look to hedge partially at 72.50 levels and further on dips. GBPINR is likely to trade in the range of 72.45-72.95 levels today. Short Term: Neutral to bearish. Medium term: Maintain bullishness.
USD/JPY: Japanese Yen is currently trading at 81.82 levels. The Japanese yen was stronger against most of its counterparts. Support is seen at 81.43 levels (21 days daily EMA) while resistance is seen at 82.16 levels (100 days daily EMA). Short term to medium term: maintain Bullishness for the pair.
AUD/USD: Australian Dollar is currently trading at 1.0543 levels. The Aussie is hardest hit down nearly 150 pips against dollar on concern of European debt crisis and fear of slowdown in China. Support is seen at 1.0552 levels (55 days daily EMA) and resistance is seen at 1.0652 levels (21 days daily EMA). Exporters are suggested to book exposure around 1.0650 levels while Importers can cover their exposure near 1.0500 regions and on dips. Short Term: Neutral to bearish. Medium term: Maintain Bullishness.
Gold: Gold is currently trading at 1515.43 levels. Gold rose as the European sovereign-debt crisis spurred demand for the precious metal.Support is seen at 1482.71 levels (55 days daily EMA) while resistance is seen at 1532 (61.8% Fibonacci 1577 to1462). Outlook: Medium term Bullish.
Oil: Oil is currently trading at 98.25 levels. Weaker economic data and a stronger dollar are putting pressure on the oil market. Strong support is located at 95.23 levels (200 days daily EMA) while resistance is seen at 100.87 levels (100 days daily EMA). Outlook: Medium term Bullish.
Dollar Index: Dollar Index is currently trading at 76.19 levels after making high of 76.37. The dollar was firmer across the board as risk aversion took hold. U.S. 10-year Treasury yields fell by about 2 basis points as investors sought safety in Treasuries. Support is seen near 75.36 levels (55 days daily EMA) while resistance is seen near 76.38 levels (100 days daily EMA). Outlook remains bearish for Short Term and Medium Term: Bullish (Post July).