EUR: Euro is currently trading at 1.3253 levels. Euro is trading firm even though Greek political leaders yet again failed to sign off on a tough reform and austerity programme to secure the most vital new international bailout, but Prime Minister Lucas Pademos has said that they would try to strike a deal very soon. Investors are still positive that somehow Greece will avert default and will strike a deal with its private Investors. Looking ahead Euro key interest rates at today's monetary policy decision is expected to stay unchanged. Support is seen at 1.3141 levels (55 days daily EMA) and resistance is seen at 1.3319 levels (100 days daily EMA). EUR/INR is at 65.44 levels. EUR/INR is like to trade in the range of 65.00 and 65.60 levels for the week. Short Term Bullish Medium Term Bearish. Break of 1.33 on a closing basis would turn the outlook quite bullish otherwise still in range of 1.26-1.33.

GBP: GBP is currently trading at 1.5813 levels. The cable is trading weak on expectation of more aggressive asset-buying decision from the Bank of England today and the key interest rates are expected to stay unchanged as well. Support is seen at 1.5767 lev-els (55 days 4hrly EMA) while resistance is seen at 1.5932 levels (100 days weekly EMA). GBP/INR is at 78.05 levels. GBP/INR is likely to trade in the range of 77.80 to 78.40 levels today. Maintain short term Bearish and Medium term Bearish. Target 1.55.

AUD: The Aussie is trading at 1.0780 levels. Support is at 1.0690 levels (55days 4hrly EMA) and next 1.0510 (21days Daily Ema), Resistance at around 1.0840. Exporters can cover at current levels and importers can cover near 1.0300 - 1.0400 levels. Short Term: Neutral Medium Term: Bearish. Target: 1.0300 levels.

JPY: Yen is currently trading at 77.14 levels. JPY is trading weak on possible expectation of intervention by Japanese government and after Core Machinery Orders m/m data came out weaker then expected. Support is seen at 76.81 levels (21 days daily EMA) while resistance is seen at 77.25 levels (100 days daily EMA). Outlook: Short Term slight Bullish for JPY Target 78 again.

Oil: Oil is currently trading at 98.84 levels, at similar levels since yesterday and resisting the $100 level in intraday. Weekly government inventories showed a small increase in supplies, amidst some confusion as some sources expected a steep decline. Support is seen at 97.00 levels (100 days daily EMA) and resistance is seen at around 99.43 levels. Outlook: Short term bearish and medium term bearish. Target: 95 levels. Look at shorts at stiff resistances for medium term.

Gold: Gold is currently trading at 1733.90 levels. The yellow metal was seen shedding a few points as Greece was seen finalizing a deal and may come out with its final resolutions. The Greek political leaders accepted to take a 22% cut in minimum wages, showing some seriousness on their part. Support is seen at around 1708.35 levels (21 days daily EMA) while resistance is seen at around 1757 levels. Outlook stays medium term bearish: Look at shorts. Target 1700 again.

Dollar Index: DI is currently trading at 78.69 levels. DI is trading slightly lower helped by strength in the Euro and the JPY. Sup-port is seen at 78.02 levels (200 days daily EMA) and resistance is seen at 79.36 levels (55 days daily EMA). Short term and Me-dium Term: Bullish. Next target 81 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.