EUR/USD: Euro is currently trading at 1.4290 levels. Euro bounces heavily against the greenback on optimism on Greek austerity votes and speculation that the latest bailout involves replacing existing Greek debt with 30yr bonds guaranteed by the EIB or EFSF. Looking ahead GfK German Consumer Climate data is expected weaker and German Prelim CPI m/m data is expected better. Support is seen around 1.4225 levels (55 days daily EMA) while resistance is seen at 1.4320 levels (100 days 4hrly EMA). EUR/INR (64.27): Exporters can cover short term exposure at current levels while importers can cover on dips near 63.30 and below. EUR/INR is likely to trade in the range of 64.05-64.52 levels today. Short term: Bearish. Medium term: Bearish
GBP/USD: The Sterling is currently trading at 1.5979 levels. Looking ahead Current Account data is expected better and Final GDP q/q is expected neutral. Support is seen at 1.5920 levels and resistance is seen at 1.6006 levels (21 days 4hrly EMA). GBP/INR (71.84) Exporters can cover short term exposure near 72.40 levels while the importers can wait to hedge near 71.50 levels. GBP/INR is likely to trade in the range of 71.55-72.10 levels today. Short term: Bearish. Medium term: Bearish
AUD/USD: The Aussie is currently trading at 1.0469 levels. Support is seen at 1.0417 levels (21 days weekly EMA) and resistance is seen at 1.0490 levels (21 days 4 hrly EMA). Exporters are suggested to book exposure around 1.0600 levels while Importers can cover partially their near term exposure at 1.0200-1.0300. Short term: bearish. Medium term: Maintain neutral.
JPY: Yen is currently trading at 80.81 levels. Support is seen at 80.56levels (21 days Daily EMA) while resistance is seen at 81.07 levels (55 days daily EMA). Yen Exporters are suggested to book exposure below 80.00 and Importers can cover above 81.00 levels. Outlook: Short term to medium term: Maintain Bearish for the pair.
Gold: Gold is currently trading at 1499.89 levels after making a low of 1490.44 levels. Gold is under selling pressure as rising dollar eroded the appeal of precious commodities as an investment. Support is seen at 1488.35 (100 days daily EMA) while resistance is seen at 1513.76 levels (55 days daily EMA). Outlook: Medium term Bullish.
Oil: Oil is currently trading at 90.90 levels. Support is seen around 90.00 levels while resistance is seen at 91.60 levels (21 days 4 hrly EMA). Outlook: short term Bearish, Medium term neutral.
Dollar Index: DI is currently trading at 75.28 levels. Dollar is weak across the board as slight risk sentiment takes over on positive results from Greek austerity votes. Looking ahead S&P/CS Composite-20 HPI y/y data is expected weaker and CB Consumer Confidence data is expected neutral. Support is seen at 75.08 levels (55 days daily EMA) and resistance is seen at 75.75 levels (100 days daily EMA). Outlook remains Bullish for Short Term and Medium Term: Bullish (Post June - July).
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