The EURUSD is currently trading at 1.3380 levels after touching a low of 1.3199 levels on friday. Near term importers cover near 1.3000 -1.3200 levels. Bearish below 1.3650 levels and 1.30 looks most likely. (EURUSD - 1.3380).
GBPUSD is currently trading at 1.5454 levels. Near term imports are already covered for clients (refer last 19 days! update) around 67- 68 levels. The bias is bearish further down. Exporters for April and May can cover atleast 50-60% at 1.54-1.55 levels i.e 68.30-68.60 levels. Breaking of 1.5300 levels would push the pair to 1.5150 levels. Weekly charts are showing downward correction. Bearish below 1.5600 levels. (GBPUSD 1.5454).
USDJPY is currently trading 93.85 levels. Yen is taking strong resistance near 94.20 breaking which we could target 97-98 levels. Weekly close above 92 levels has increased chances for a bearish move for the yen currency. Importers hold for medium term covers. (USDJPY- 93.85). Long Term (3-6 months) Target 98 and higher. WE JUST NEED A CONSISTENT BREAK OF 94.30 TO MAKE THIS HAPPEN.
AUDUSD is currently trading at 0.9260 levels. Importers cover on dips. Exporters in Aud may start booking from 0.9350 onwards partially. Since the Australian currency is overall hawkish and Gold is holding above $1135 dollars we would stay away from shorts! . Buying on dips is recommended. (AUDUSD - 0.9260). Bullish.
Gold is currently trading at $1154 levels and its bias is clearly on the upside. Buy on dips remains is the strategy. (Gold- $1154) Bullish.
The dollar index, the sharp fall ahead of 82.24 resistance argues that medium term rally is not ready to resume yet. Consolidation from 82.24 might extend further with another fall and break of 81.04 minor support will flip intraday bias back to the downside for 80.04 support to conclude the consolidation. Though, decisive break of 82.24 will target next key fibonacci level of 61.8% retracement of 89.62 to 74.19 at 83.72 next. (Dollar Index- 81.31) Bullish