Rupee : Rupee took support from 48.20-30 levels which are strong moving averages support- (100 days and 50 days). We maintain the bearish bias till rupee is holding above 48.20. Only and Only if we get support from dollar strength and bearish momentum in stocks , commodities and dollar index we could see rupee at 50 levels soon otherwise rangebound. Upside in rupee is limited. Bearish (USD/INR : 48.58).

Eurusd : EURUSD made a breakout move above 1.4450. Break of 1.4350 again on the downside is important to make the outlook bearish to consolidative again. Longs should be avoided around these levels. Eurozone Exporters should look at covering their exposures around these levels for medium term. Shorts around 1.4610-30 levels can still be done. (EUR/USD 1.4610) Neutral

Sterling : Pound broke above its weekly trendline at around 1.65 levels and is staying above that. It needs to stay above 1.65 to maintain bullish bias otherwise the outlook would still remain consolidative between 1.63-1.66. Shorts to be favoured if cable maintains below 1.6500 levels again. (GBP/USD 1.6612) . Neutral

Yen : Yen has broken the weekly triangle consolidation and is staying below 92-93 levels. Medium term target of 90 reached . Expect some consolidation again between 90-93.(USD/JPY 91.07) Rangebound

Aud : Aud maintains the bullish bias. Buying at dips close to important supports remains the best strategy in the current market scenario.Only a continuous move below 0.8200 would break the trendline and stand bearish for the pair. (AUD/USD -0.8608) Bullish

Gold : Gold is mainting the bullish bias and longs can be gathered around $990 - $995 levels. Medium term target comes around $1020 levels. ( GOLD : $998) Bullish.

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 otherwise rangebound. It could bottom close to 75.50 levels. (Dollar Index - 76.95).Neutral