USDINR : The rupee has decisively broken the range of 46.00-46.60 levels maintained since a long time and would confirm bullishness in Rupee if we get a closing below 45.90 for 2-3 days. The bias remains bullish until 46.60 is held. Importers may take covers for the short term near 45.60-45.80 levels and exporters may start booking at every dip in USDINR above 46 levels.(USDINR 45.80) INR bullish below 46.60 levels.

EURUSD : The EURUSD bias remains neutral in nearest term and the bearish scenario remains intact. Immediate resistance comes near 1.3750 (61.8% retracement levels with 200 days Weekly EMA). Initiate cautious shorts near these levels with tight stoploss of 1.3840 levels. (EURUSD - 1.3593).Neutral but Oversold.

GBPUSD : GBPUSD is currently trading at 1.5034 levels and touched high of 1.5138 yesterday. Immediate strong resistance comes near 1.5350 levels (21 days Dail! y Ema). Below 1.5350 pressure should remain downside. (GBPUSD 1.5034). Neutral but Oversold.

USDJPY : USDJPY is currently trading at 89.26 levels. Downside correction is expected till 88.40 levels. Importers in Yen may look at covers around these levels. Overall the trend remains strong for yen below 93 levels. (USDJPY- 89.26). Bullish.

AUDUSD : AUDUSD is currently trading at 0.9003 levels. Correction seems to be over for Australian dollar. Buying on dips remains the strategy. Further bullishness till 0.9250 levels is expected again. (AUDUSD - 0.9003) Bullish.

GOLD : Gold moved up taking support from $1087 levels and holding above $1100 levels. It touched the high of $1141 yesterday. Buying at dips close to $1100-10 levels remains the strategy. (Gold-$1134). (Rangebound to slight bearish).

Dollar Index : Dollar index broke the 80 leve! ls and tested the lows of 79.94 levels yesterday. Only and onl! y if dol lar index trades above 80 levels then could see further upside corrections till 82 levels. Buying on dips on the index remains the strategy. (Dollar Index – 80.52). Bullish above 80 levels.

India Forex
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DISCLAIMER

These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsible for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.