EUR/USD: Euro is currently trading at 1.4490 levels. Euro is trading slight positive against the dollar as US Fed Chairman said the economy hasn't deteriorated enough to need immediate monetary stimulus, spurring demand for riskier assets. Support is seen at 1.4430 levels (21 days daily EMA) while resistance is seen at around 1.4528 levels. For EUR/INR it is recommended to sell at 67.00 levels. Exporters can cover short term exposure at current levels while importers can cover exposure at 64.00 and below. EUR/INR is likely to trade in the range of 66.00 - 66.70 levels today. Short term: Bearish. Medium term: Bearish. Target 1.4000 levels

GBP/USD: The Pound is currently trading at 1.6371 levels. The cable is positive vs. the dollar amid risk appetite in the market. Support is seen at 1.6301 levels (55 days daily EMA) and resistance is seen at around 1.6432 levels. GBP/INR (75.22) Exporters can cover short term exposure at current levels while the short term importers can cover on dips towards 73.00 below levels. GBP/INR is likely to trade in the range of 74.80 - 75.40 levels today. Short term: Bearish. Medium term: Bearish. Target - 1.5800 levels.

USD/JPY: Yen is currently trading at 76.69 levels. Support is seen at around 76.27 levels while resistance is seen at 77.08 levels (21 days daily EMA). Yen Exporters are suggested to book exposure partially at current levels and Importers can cover above 78.50 levels. Outlook: Short term to medium term: Maintain bearish for the pair.

AUD/USD: Australian dollar is currently trading at 1.0469 levels. The commodity currency is positive amid risk appetite after Fed Chairman eased concerns that US economy may stall, spurring demand for higher yielding assets. Support is seen at 1.0566 levels (55 days Daily EMA) and resistance is seen at around 1.0690 levels. Exporters are suggested to book exposure at current levels while importers can partially cover their near term exposure at 1.0300 and further on dips. Short term: bearish. Medium term: bearish. Target 1.000 levels again.

Gold: Gold is currently trading at $1821.33 levels. Gold is positive as Investors continue to show trust in this safe haven commodity amid global uncertainties. Support is seen at 1775.34 levels (21 days daily EMA) while resistance is seen at around 1850.42 levels. Outlook: Medium term Bullish. Buy at dips target 1900 levels.

Oil: Oil is currently trading at 85.41 levels. Oil is slight positive on expectations that growth will recover in US. Strong Support is seen at around 85.07 levels (21 days 4hrly EMA) while resistance is seen at 86.27 levels (100 days 4hrly EMA). Outlook: Short term bearish and medium term bearish. Target 81 levels.

Dollar Index: DI is currently trading at 73.79 levels. Dollar is slight weak due to slight risk appetite in the market after Fed Chairman indicated last Friday that the economy hasn't deteriorated enough to need immediate monetary stimulus, spurring demand for riskier assets. Looking ahead Pending Home Sales m/m data is expected. Support is seen at around 73.55 levels (trend line support) and Resistance is seen at 74.16 levels (21 days daily EMA). Outlook remains Slight bullish for Short Term and Medium Term: Bullish Target 76 levels./ 

DISCLAIMER:These 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.