USD-INR:-

Last week USD-INR opened at 48.52 & went down to register the low at 48.35.It then continuously rose to mark the high of week at 49.24 & finally closed the week at 48.72.Thus INR becomes stronger by 0.22 compared to previous week’s closing & gained 0.5%.For the current week in our view on rise it will strong resistance at 49.25-49.40 range & downside it has good support at 48.25.However the violation of 48.25 may lead to 47.80.Our bias for the weak is downside implying stronger INR & weaker USD.

EURO-USD:-Last week we it opened at 1.4302 & went up to 1.4380 to register the high of week.It the continued to decline till 1.4177 to mark the low of the week & finally closed at 1.4293.Ideally it should make one more high tick above 1.4449 but the wanning momentum & low volume makes it,s chances very slim.A breach below 1.4177 will lead to violent downside & minor supports at 1.4046,1.4005,1.3832 & 1.3749 may prove to be insignificant.

GBP-USD:-

Last week we had expected a low in the range of 1.6000-1.6100 & it actually made the low of 1.6114.Our bias for the coming week is positive & we may see the rate 1.6625.On the downside there is good support at 1.6280 & very strong one at 1.6225.

 

USD-JPY:- Last week we expected that it will not breach 91.75 on downside & in fact it made the low of 91.95 & bounced off from there.For the coming week our bias is negative & it will not go above 94.00 & downside it is more likely to scratch the bottom of 90.00.