The EURUSD is currently trading at 1.3240 levels after touching a low of 1.3115 levels on spain downgrades on Wednesday. Near term importers cover near 1.3000 - 1.3050 levels. Bearish below 1.3650 levels and 1.30 looks most likely. We have got our exporters booked close to 1.36 levels for April and May. Please refer previous reports and sms.(EURUSD - 1.3240). Bearish .

GBPUSD is currently trading at 1.5340 levels.  Near term imports are for May cover around 1.50 levels. Our exporter clients are covered around 1.55 levels (refer previous updates). The bias is bearish further down.  Bearish below 1.5600 levels target 1.50 levels. (GBPUSD 1.5340).

USDJPY is currently trading 94.01 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. Long Term (3-6 months) Target 98 and higher. We   need a consistent break of 94.30 levels to make it happen. (USDDJPY- 94.01).

AUDUSD is currently trading at 0.9301 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 - 0.9301). Bullish.

Gold is currently trading at $1172 levels and its bias is clearly on the upside. As per our earlier reports we have continously bought from 1100 levels onwards. Buy on dips remains is the strategy. (Gold- $1172) Bullish Target 1200 dollars.

Dollar Index is most likely to make a new high there is no evidence that the dollar has peaked.  The push from 82.01 to the new high established Wednesday was in three waves and is likely part of a larger correction. The push to a new high was driven by gains relative to the euro, which reached a new high for the year, coupled with gains relative to sterling and the Swiss franc.  The latter two have yet to reach new extremes for the year.  We believe they will, suggesting the dollar will remain bid and hence clearly bullish. (Dollar Index- 81.95) Bullish.