Euro: Euro has broken the important trendline support at 1.3372 levels on Friday's trading session with good momentum and is holding below it. Retracement could happen till 1.3373 levels (55 4-hourly EMA). Bias is clearly towards downside. Look for shorting opportunities at upticks for target of 1.3030. (Eur/Usd:1.3215).

Pound: Cable fell 200 pips with renewed momentum due to weak GDP figures and poor sentiment on the pair. It has broken the important uptrending channel. The 4 hourly charts are extremely oversold which would give some room for intraday upticks till 1.4320 which could in-turn act as an opportunity to sell again. Target 1.40 (Gbp/Usd: 1.4222)

Yen: The Usd/Jpy pair has been taking strong resistance around 98.35 (200 Daily EMA). Currently the pair is trading around the 21 Daily EMA with the daily and 4-hourly stochastic showing selling bias for the pair. Shorts could be incorporated around 97.50 levels for 70-80 pips. (Usd/Jpy: 97.25)

Rupee: The continuous seven day pumping by the FII in the Indian market ($620 mn) aided the rupee to gain and close the week at 50.58/$. However, it is difficult to bet on how long will this rally last as this morning it retested 51 mark amid dollar demand by the importers and the oil refineries. A close above 51 levels can change the bias of the local unit. (USD/INR: 50.94)

Swiss Franc: The Usd/Chf pair surged almost 250 pips in Friday€™s trading session before taking the cluster resistance around 1.1475 (below which the pair continues to hold). The Daily and 4-hourly stochastic is showing further buying pressure on the pair and a decisive break of 1.1475 is important to take the pair back to 1.18 levels (200 Weekly EMA). (Usd/Chf:1.1460).

Australian Dollar: Aussie shrank 100 pips since early trade today and is currently trading around 100 Daily EMA (0.6835). The daily and 4-hourly charts continue to give selling bias in the pair. Break below this support could push the pair lower to 0.6745 (21 Daily EMA). Initial resistance comes in at 0.6915 (21 hourly EMA) where going short for intraday 70 pips could be considered. (Aud/Usd: 0.6835)

Gold: Gold dipped $17 on Friday from the highs of $935 as investors switched their cash from yellow metal to USD. The support comes in around $912 (55 daily EMA & tren-dline) with the 4-hourly & hourly charts turning to indicate slight upside. Cluster resistance holds around $932 which if breaks can lead it to retest $944 (Gold: $923.80)

Dollar index: Dollar index has broken the strong resistance of 84.61 and is now trading at 85.81 with the stochastic giving buying pressure at 33.65%.