USDINR: The rupee has been holding strong below the important support level of 45.95. Exporters may wait for retracement till 45.80-46 levels to cover and importers look at immediate term cover at about 45.35 to 45.45 levels. (USDINR 45.45). Medium term (3 months) bullish target till 44.50.

EURUSD : The EURUSD bias remains neutral in nearest term and the bearish scenario remains intact. Immediate resistance comes near 1.3705 – 1.3750 (23.6% retracement). If breaks 1.3750 level then could see further upside corrections till 1.3980 levels. (EURUSD - 1.3692).Neutral.

GBPUSD : GBPUSD is currently trading at 1.5060 levels. Immediate resistance comes near 1.5240 levels (21 days daily Ema). Initiate shorts near 1.5200 levels with stoploss of 1.5280. (GBPUSD 1.5060). Neutral.

USDJPY : USDJPY is currently trading at 90.65 levels. Downside correction is expected till 89.40 levels. Immediate resistance comes near 91.50 levels (200 days daily EMA). Initiate shorts near 91.50 levels. Overall the trend remains strong for yen below 91.80 levels. (USDJPY- 90.65). Bullish.

AUDUSD : AUDUSD is currently trading at 0.9166 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 - 0.9166) Bullish.

Gold : Gold is currently trading at $1112 levels and touched bottom of $1100 yesterday. Immediate support comes near $1100 levels (100 days daily EMA). Initiate buying near this support level with tight stoploss of $1090 levels. (Gold- $1112). (Rangebound).

Dollar Index : Dollar Index is currently trading at 80.27 levels. Immediate support comes near 79.60 levels (100days Weekly EMA) and strong resistance comes near 81.80 (200 days Weekly EMA). Only and only if dollar index trades above 80 levels then could see further upside. Buying on dips on the index remains the strategy. (Dollar Index – 80.27). Bullish above 80 levels.

India Forex
http://www.indiaforex.in

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.