Rupee :Rupee maintaining bearish bias above 48.60 levels. Despite up move in stock markets rupee is still showing bearish moves which indicates bearishness in rupee. Moroever slight strength in dollar across pushes rupee down severely. . Rupee range likely to be close to 48.60 to 49 levels till we see major strength coming in dollar overseas.Exporters can start booking around 49 plus levels. (USD/INR : 48.72)
Euro :Euro took support at around 1.4260 levels as expected and moved up 100 pips .Only staying below 1.40 levels would shift the strategy to the downside. We have to be careful since monthly charts are overbought and signs of decline are seen in other major pairs. Shorts can be initiated around 1.4350 to 1.4400 (EUR/USD 1.4356) Neutral
Sterling : Pound is holdiing below its weekly trendline resistance at 1.6450, look at selling at upticks. Immediate sell target is 1.6360 levels. Staying below 1.6200 would target 1.58. (GBP/USD 1.6302) . Bearish
Yen : Yen has again entered the weekly triangle consolidation pattern between 92 to 98 levels. Risk aversion and Risk appetite has been playing sea-saw since last couple of months. The triangle pattern is very much visible within the weekly range. Buy at dips close to 93 and sell at 97-98 levels remains the strategy. (USD/JPY 93.03) Rangebound
AUD : Aud maintain the bullish bias. Buying at dips close to important supports remains the best strategy in the current market scenario.Only a continous move below 0.8200 would break the trendline and stand bearish for the pair. (AUD/USD -0.8420) In Correction Mode.
Gold : Gold was range-bound yesterday between $941 - $950 levels. Bullish only above 960 dollar otherwise rangebound.(Gold- $953.94)
Dollar Index : The Dollar Index (basket against 6 currencies with EUR accounting for 57% of the basket) needs to break the levels of 79.50 to maintain strength again. Keep an eye on this level. (Dollar Index - 78.03).