Rupee moving in range-bound fashion. One interesting move that happened Thursday was despite 400 points move in Sensex, rupee did not get strong but was slightly weaker bias.
On Friday, it is hovering around the same level where it opened .Stocks areflat despite Dow 200 points rally Thursday.
Rupee likely to have a weaker bias. Only a break above 48.60 to target 48.90. Strength should be limited. Bearish. (USD/INR : 48.38)
Euro
Euro moved up till 1.4290 in the US Session and fell drastically to 1.42 and currently 1.4160 levels. Euro has made a reversal bar in the charts which needs to be confirmed once the pair breaks the crucial 1.4150 support on a closing basis.(Eur/Usd:1.4178) Neutral
Dollar index
Dollar index is still a range bound with slight downward pressure. We strongly feel that a constant hold below 79.35 support will only turn the outlook short term bearish till 77.70 levels. (Dollar Index - 78.95) Slightly Bearish
Aussie
Aud needs to break above 8200 to maintain bullishness. Yesterday it met heavy resistance around those levels. It needs to stay above 0.8200 for one close to maintain bullishness.
Immediate support at 0.7950. Break below that area should trigger bearish momentum.(AUD/USD -0.8130) Neutral
Sterling
Cable moved up close to 1.6580 levels in the early US Session and fell drastically to sub 1.65 again despite Dow moving up 200 points. Break below 1.6400 is needed to be bearish.again .
Technically only a break of 1.6550 would again turn the view bullish in short term (GBP/USD 1.6490) Neutral
Yen
Yen moved in a quite an interesting fashion yestarday after the move of DOW breaking 95 levels. Yen needs to break past 95 levels to maintain bearishness. (USD/JPY 94.80) Overall Bullish
