Forex Technical Update

EUR / USD: Euro is trading at 1.3663 levels. The euro is weak against the dollar as the official euro area disagree on the approaches to stem the debt crisis of the Euro zone. Current a / c data was weaker euro last Friday. Support is seen around 1.3577 and resistance levels seen in the levels of 1.3764 (21 days every 4 hours EMA). EUR / INR is at 65.19 levels. Exporters can cover short-term exposure at current levels while importers can hedge the exposure to levels of 64 and below. EUR / INR is likely to trade in the range of65.00 and 66.50 levels. Short term: Bearish Bearish Medium Term. 1.3500-1.3600 next target.

GBP / USD: GBP is currently trading at 1.5701 levels. The monitor cable is weak due to weak euro and risk aversion in the global market. Support is seen around 1.5574 and resistance levels seen in the levels of 1.5786 (21 days per day EMA). GBP / EUR (74. 86) The exporters can cover short-term exposure to current levels and a little more, while importers in the short term can cover on dips to 74 and below levels. GBP / INR is likely to trade in the range of 74.50 and 75.20 at current levels. In the short term and medium term bearish downtrend. Next Target: 1.5600

USD / JPY: Yen is trading at 76.89 levels. Support is seen at around 76.29 levels whereas resistance is seen at 77.59 levels (day 55 days EMA). Yen Exporting book suggests some exposure to current levels and importers can cover above the 78.50 level. Outlook: Short-term term bearish light and medium enterprises: Keep bearish for the pair. USD / JPY should be at levels of 76-78 with a bearish bias.

AUD / USD is quoted at U.S. $ 1.0251 level. The currency is weak against dollar básicosel products through the global economy is losing momentum problems, such as euro zone leaders disagree over approaches to contain the euro zone debt crisis, falling demand for higher-yielding assets. Support is seen around 1.0178 and resistance levels seen in the levels of 1.0320 (4 HRLY 21 days EMA). Exporters are suggested for the exhibition and book at 1.0500, while the levels of imports can partly cover its short-term exposure to 1.0200and more falls. Short-term: bearish medium-term: bearish. Target almost reached 1.0200.

Oil: Oil is trading at 87.04 levels. Oil is under selling pressure on speculation that fuel demand will falter amid slower economic growth in Europe and U.S., the world's largest consumer of crude. Support is seen at around 83.34 levels whereas resistance is seen at 90.83 levels (55 days a week EMA). Short-term outlook bearish medium term bearish. Goal of 84 levels.

Gold: Gold is trading at 1822.90 levels. The gold is positive as investors continue to flock to the safety of the precious metal amid signs of global growth is weakening. Support is seen at around 1794.84 and the level of resistance is seen at around 1839.36 Gold levels.Outlook is undergoing consolidation. Stay away from long until we see significant corrections.

Dollar Index: DI currently trading at 77.04 levels. Strong dollar is in the midst of risk aversion in world financial markets amid signs that the euro leaders are struggling to contain the debt crisis of the Euro zone. Support is seen at 76.25 levels (200 days to the day EMA) and the resistance is seen at 77.87 levels (100 days a week EMA). Outlook remains very optimistic for the short and medium term: bullish. 76 Goal Attainment. Next target of 78 to 78.50 levels.