Rupee :48.20-30 levels 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 : 48.35)

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. (EUR/USD 1.4564) Neutral

Sterling :Pound broke above its weekly trendline at around 1.65 levels yesterday. It needs to stay above 1.65 to maintain bullish bias otherwise the outlook would still remain consolidative. Shorts to be favoured if cable maintains below 1.6500 levels this week.(GBP/USD 1.6550) . Bearish

Yen : Yen has broken the weekly triangle consolidation and staying below 92-93 levels. Medium term target is 90.(USD/JPY 92.09) 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 -0.8595) Bullish

Gold : Gold maintains bullish bias.We maintain buying on dips close to 965 - 975 dollars remains the strategy. (GOLD $993.40)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. (Dollar Index - 76.93).Neutral