USD-INR:- It has good support at 46.175 & we will keep the bias positive as long as it is held. On the upside it is likely to face resistance at 47.42 & 47.77.We recommend buying AUG future  MCX at 46.70 with the stop of 46.58 for the target in the range of 47.32-47.43.

EURO-INR:- EUROINR has fallen steadily & confirms the termination of the flat formation at 61.5123.For the coming week we expect it to bounce to 59.50 & then decline to 58.70 & 58.30.We suggest selling short AUF future MCX  at 59.40 with the stop of 59.60 for the target of 58.80 & then 58.40.

GBP-INR:- It is likely to bounce back to 73.20-73.30 during the initial part of the week. It is then expected to decline to 71.20-71.30 levels. We suggest buying AUG future MCX at 72.55 with the stop of 72.20 for the target of 73.10..

JPY-INR:-  It has made the high of the 55.245 against our expectation of the 56.00 & in all probabilities has completed the upside pattern & we see it heading for the 53.00 levels in coming week.

EURO-USD:- Last two weeks price action confirms the downward impulse. We see it initially bouncing to touch the range at 1.2755-60 & then declining sharply to 1.2475-1.2500 range in a very swift manner.

GBP-USD:- We are of the view that during the initial part of the week it will decline to 1.5400 levels 7 then bounce back to 1.5650-1.5700 levels.

USD-JPY:- USDJPY has consolidated within the 86.37- 84.72 quite well last week. For the coming week once it crosses 86.37 it will shoot up to 88.00 level & will justify the MORNING STAR PATTERN formed at 84.72.

DOLLAR-INDEX:- It has given a break out from the INVERTED HEAD & SHOULDER PATTERN & the target for the same is 86.50 .This should achieved in next two weeks.