USD-INR:-

Last week USD-INR opened at 48.42 & went down to register the low at 48.25.It then continuously rose to mark the high of week at 49.05 & finally closed the week at 48.50.Thus INR becomes stronger by 0.08 compared to previous week’s closing & gained 0.5%.For the current week in our view on decline it will find good support at 48.25-48.05range & on upside 49.50-49.60 will act as resistance zone.Our bias is positive for the week.However after hitting the resistance zone it may attempt to touch the lower  support zone.

EURO-USD:-Last week we it opened at 1.4326 & went down to 1.4253 to register the low of week.It the continued to rise till 1.4410 to mark the high of the week & finally closed at 1.4297.We are looking for a nominal high tick above 1.4449 to complete the major upside pattern with thewanning momentum & volume.Thereafter a violent reaction is expected downside so a tight stop for long is mandatory.

GBP-USD:-

Last week it opened at 1.6505 & went up to mark the high of the week at 1.6545.It then contued to decline till 1.6154 to register the low of the week & finally closed at 1.6267. As reported last week the breach of 1.6490 brought it 1.6154.We maintain our downside target of 1.60-1.61 or still lower in intermediate term.For the coming week we see a major resistance at 1.6400 on upside & on the downside there lies the support at 1.5900-1.6000.

 

USD-JPY:- Last week  it opened at 9436 & went up to register the high at 95.06.It then continued to decline till 93.22 to form the low of the week & finally closed at 93.59.For the coming week we are of the view that it will not breach 91.75 on downside & on upside 95.10 will act as resistance for it.