EUR/USD: Euro is currently trading positive at 1.4292 levels. Euro fell amid concern European governments will struggle to resolve the sovereign debt crisis, damping demand for the region's assets. Strong support is seen at 1.4271 levels (21 days and 55 days daily EMA) while resistance is seen at 1.4393 levels (200 days 4 hourly EMA). EUR/INR (64.45) Exporters can cover partially short term exposure at current levels while importers can cover on dips towards 63.25 levels. EUR/INR is likely to trade in the range of 64.20-64.68 levels today. Short Term: Neutral to bearish, Medium term: Slight bearish.
GBP/USD: The Sterling is currently trading at 1.6485 levels. Sterling continues it rally against dollar and Euro, set to benefit from an increasingly uncertain economic outlook of U.S and Euro zone. Support is seen at 1.6377 levels while resistance is seen at 1.6535 levels (200 days Weekly EMA). GBP/INR (74.35) Exporters can cover short term exposure at current levels 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 74.00-74.55 levels today. Short Term: Neutral to bearish. Medium term: Slight bearish.
USD/JPY: The Yen is currently trading at 80.79 levels. The Yen is trading stronger against the dollar on account of continuous weak data from US front. Support is seen at 80.30 levels while resistance is seen at 81.35 levels (21 days daily EMA). Yen Exporters are suggested to book exposure at current levels and Yen Importers can cover very partially at 83.50 plus levels. Short term to medium term: Maintain Bullishness for the pair.
AUD/USD: Australian Dollar is currently trading at 1.0698 levels. The Aussie is quite stable as it seems to be supported by the positive rally in Gold. This morning HIA New Home Sales m/m data and Company Operating Profits q/q data came out weaker than expected. Support is seen at 1.0648 levels (21 days daily EMA) and resistance is seen near 1.0745 levels. Exporters are suggested to book exposure around 1.0750 levels while Importers can cover partially their near term exposure at 1.0550. Short Term: Neutral to slight bearish. Medium term: Maintain Bullishness.
Gold: Gold is currently trading at 1535.82 levels. Gold is holding steady underpinned as concerns about Greece's debt crisis as well as sluggish U.S. consumer and housing market data supported appetite in bullion. Support is seen at 1514.25 levels (21 days daily EMA) while resistance is seen at 1550 levels. Outlook: Medium term Bullish.
Crude Oil: Crude oil is currently trading at 100.52 levels. Oil slumped as the US economy showed signs of weakness with the US consumer and housing market data surfaced weaker than expected. Strong support is seen at 95.45 levels (200 days daily EMA) while resistance is seen at 101.27 levels (21days daily EMA) Support is seen at Outlook: Medium term Bullish.
Dollar Index: DI is currently trading at 74.88 levels. The dollar fell as reports showing growth cooled in the U.S. fueling speculation that the recovery of the world's biggest economy may be stagnating. US Personal Spending m/m data came out weaker last Friday at 0.4% vs. 0.5% previously. Support is seen at 74.52 levels and resistance is seen at 75.14 levels. Outlook remains Neutral to slightly Bullish for Short Term and Medium Term: Bullish (Post July).