EUR/USD: Euro is currently trading at 1.4433 levels. The euro is trading positive vs. the dollar on speculation that meeting between French President and German Chancellor will result in action to contain the region's debt crisis. Support is seen at 1.4373 levels (trend line support) while resistance is seen at around 1.4506 levels. EUR/INR (65.27): Exporters can cover short term exposure at current levels while importers can cover short term exposure below 64.00 levels. EUR/INR is likely to trade in the range of 64.50-65.40 levels today. Short term: Bearish. Medium term: Bearish. Target 1.3800 levels.

GBP/USD: The Pound is currently trading at 1.6368 levels. The pound is positive today against the dollar amid slight risk appetite in the market and positive euro. However the gains are expected to be short lived as a weak UK economy might require further monetary easing. Support is seen at 1.6282 levels (21 days daily EMA) and resistance is seen at around 1.6429 levels. GBP/INR (74.01) Exporters can cover short term exposure at current levels while the importers can cover their short term exposure 73.00 levels and below. GBP/INR is likely to trade in the range of 73.50 - 74.30 levels today. Short term: Bearish. Medium term: Bearish. Target - 1.5800 levels.

JPY: Yen is currently trading at 76.84 levels. Support is seen at around 76.31 levels while resistance is seen at 77.21 levels (55 days 4 hourly EMA). Yen Exporters are suggested to book exposure at current levels and Importers can cover above 78.50 levels. Outlook: Short term to medium term: Maintain bearish for the pair. Target 76 levels again

AUD/USD: Australian dollar is currently trading at 1.0488 levels. The commodity currency continues to advance against the US dollar as traders bought it at dips amid positive equities globally increasing demand for higher-yielding risky assets. Support is seen at 1.0371 levels (200 days daily EMA) and resistance is seen at 1.0579 levels (100 days daily EMA). Exporters are suggested to book exposure near 1.0600 while Importers can partially cover their near term exposure at 1.0200 and further on dips. Short term: bearish. Medium term: bearish.

Oil: Oil is currently trading at 87.41 levels. Oil continues to be positive amid encouraging global equities decreasing concerns that global weakness with falter oil demands. Support is seen at 86.46 levels (55 days 4 hourly EMA) while resistance is seen at 88.93 levels (100 days 4 hourly EMA). Outlook: Short term bearish and medium term bearish.

Gold: Gold is currently trading at 1765.75 levels. Gold is positive as Investors saw buying opportunity after a slight correction in gold recently. Support is seen at 1751.69 levels (21 days 4 hourly EMA) while resistance is seen at around 1778.62 levels. Investors are recommended to look for a correction to buy again. Outlook: Medium term Bullish.

Dollar Index: DI is currently trading at 73.88 levels. Dollar is slight weak against the majors amid risk appetite in the market after TIC LongTerm Purchases data and Empire State Manufacturing Index data came out weaker than expected. Support is seen at around 73.51 levels (Trend line support) and Resistance is seen at 74.48 levels (21 days daily EMA). Outlook remains Slight bullish for Short Term and Medium Term: Bullish Target 76 levels.

DISCLAIMERThese 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.