USD-INR:-

Last week USD-INR opened at 47.61 & went up to register the high at 47.71.It then continuously decline to mark the low of week at 46.08 & finally closed the week at 46.42.Thus INR becomes stronger by 1.20 compared to previous week’s closing & gained 2.5%.For the current week in our view on rise it will face strong resistance at 46.95 & downside it has good support at 45.15-45.10.Our bias for the week is sideways to negative.

EURO-USD:-Last week we expected a one nominal high above 1.4844 & it made actually the high of the 1.4817.We are expecting that it will attempt to make a high above 1.4844 in early part of the week & the slide off sharply from there on to find the initial temporary support at 1.4480 & some good support at 1.4190-1.4220 range.We recommend shorting above 1.4844 on every rally with the appropriate stop.

GBP-USD:-

Last week it made the high of 1.6120 against our expectation of 1.6160.For the coming week we are expecting it to proceed towards the head & shoulder target of 1.525-1.5350.

 

  USD-JPY:- As we expected it made a new low of 88.00 below 88.25 & bounced off sharply from there on the last day of the week.We see the target of this bounce at 91.60-92.50.