USD-INR:-

Last week USD-INR opened at 48.75 & went up to register the high at 48.85.It then continuously decline to mark the low of week at 48.20 & finally closed the week at 48.39.Thus INR becomes stronger by 0.33 compared to previous week’s closing & gained 0.75%.For the current week in our view on rise it will face strong resistance at 48.85-49.00 range & downside it has good support at 47.80.However the violation of 47.80 may lead to 47.40-47.20 range.Our bias for the weak is downside implying stronger INR & weaker USD.

EURO-USD:-Last week we it opened at 1.4297 & went down to 1.4288 to register the low of week.It then continued to rise till 1.4635 to mark the high of the week & finally closed at 1.4570.It had shown a good momentum upside & we are expecting one more new high above 1.4635 which may go to 1.4830-1.4850 range.However it is forming a terminal diagonal pattern in c5 of a larger degree flat which imply vertical decline hence tight stop is mandatory.

GBP-USD:-

Last week we had expected a high of 1.6625 & it actually made high of 1.6741.For the coming week our bias is positive & we see a strong support at 1.6450 & we are looking that it may touch 1.700 but not breach substantially.

 

USD-JPY:- Last week we expected that it will not breach 94 on upside & on the downside it will scratch the bottom of 90.00.Actually it made the low of 90.21.For the coming week it may not breach 89.00 & on upside 93.00 is strong resistance for any bounce.Our bias is for the weaker yen for coming week however longer term trend is of the stronger yen.