Rupee : Rupee reached our first target of 49.20 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. Exporters can start booking partially. We maintain further bearishness in rupee. Only and Only if we get support from dollar strength against the stocks ,commodities and euro we could see rupee at 50 levels soon. (USD/INR : 49.13)Bearish for Rupee

Euro : Euro had a massive sell off yesterday and took trendline support at 1.4180 levels. Staying below 1.4180 levels stands bearish for the pair.. We have to be careful on longs 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 1.4210) Neutral

Sterling : Pound is holdiing below its weekly trendline resistance at 1.6450. Look at selling at upticks. Immediate sell target is 1.6250 levels. Staying below 1.6200 would target 1.58. (GBP/USD 1.6154) . 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 92-93 and sell at 97-98 levels remains the strategy. (USD/JPY 92.87) 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 -0.8317) In Correction Mode

Gold : Gold is ranging between $939 to $960 from last many sessions. Daily close above $960 will turn the medium term outlook bullish otherwise rangebound.(Gold- $954.00)- Rangebound

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 - 78.30).Short term Bullish