USD/INR : - The rupee has been hovering around the important support level of 45.50 since last week. Overall the bias is bullish in Rupee. Exporters may wait for retracement till 45.80-46 levels to cover and importers look at immediate term cover at about 45.40 to 45.50 levels. (USDINR 45.58). Medium term (3 months) bullish target till 44.50.
EUR/USD : - The EURUSD is currently at 1.3740 levels and touched high of 1.3797 levels on Friday. Immediate resistance comes near 1.3750 1.3800 levels. If it breaks these resistance levels then we could target further upside till 1.4000 levels. Bias is bullish in nearest term. (EURUSD - 1.3740).Cautiously bullish.
GBP/USD : - GBPUSD is currently trading at 1.5160 levels. Immediate resistance comes near 1.5218 levels (21 days daily Ema). Initiate shorts near 1.5200 levels with stoploss of 1.5280. (GBPUSD 1.5160). Neutral.
USD/JPY : - USDJPY is currently trading at 90.62 levels. Downside correction is expected till 89.40 levels. Immediate resistance comes near 91.40 levels (200 days daily EMA). Initiate shorts near 91.40 levels. Overall the trend remains strong for yen below 91.80 levels. (USDJPY- 90.65). Bullish.
AUDUSD : - AUDUSD is currently trading at 0.9140 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 - 0.9140) Bullish.
Gold : - Gold is currently trading at $1104 levels and touched bottom of $1099 on Friday. Immediate support comes near $1100 levels (100 days daily EMA). Initiate buying near this support level with tight stoploss of $1090! levels. (Gold- $1105). (Rangebound).
Dollar Index : - Dollar Index is currently trading at 79.94 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 79.96). Bullish above 80 levels.
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