Sunday, 4 March 2012


Cross Currency and Dollar Index Updates

The greenback advanced against three of the four component currencies. The USD Index is in bearish mode despite better US fundamentals. This is due to expectations built up on eurozone. Dollar Index will not cross level of 80.00 in near future.


EUR/USD has appreciated up to 1.3250 levels. It will further go up to 1.3480, in the mean time it might move sideways.


 AUD/USD is set to consolidate and move higher with support at 1.0700.


GBP/USD is range bound with resistance at 1.6150 and support at 1.5650.


The CAD/USD is benefiting from the Euro zone betterment, though it seems range bound between 0.9875 and 1.0550.


The USD/CHF will move further down if breaks below 0.8950.


USD/JPY is pushing up due to Japan’s weak economic data, with strong support at 77.28.


USD/INR has support at 48.50 and resistance at 50.00, chances are that the support will hold and Re might remain range bound.


EUR/INR has support is at 65.30 and resistance at 65.50. Probably, the pair will breakdown below 65.30.


GBP/INR has support at 78.30 and resistance at 78.65, it might move down once support is broken.


JPY/INR has a weekly resistance at 0.6060 and support at 0.6050.

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