Aussie holds firm on the greenback.-jun 30.

Australian dollar held firm against the U.S. currency supported by high commodity prices, although growing risk aversion checked gains.
Tech Outlook:
AUD is expected to be in green for the day. Trading range is expected between 0.9560-0.9670.Good support seen at 0.9540 and resistance for the currency is seen at 0.9700. Currency is seen trading well above the moving average supporting the bull trend. Stochastic is also trending up but caution required as the market is in overbought levels.

Euro and pound continue their bull run.-jun 30

Green back was near a three-week low against the Euro on speculation of declines in payrolls and manufacturing, limiting the Federal Reserve's scope to reverse seven interest-rate cuts

Tech View:

Euro is expected to be on a bull note for the day. with the trading range expected between 1.5710-1.5870 levels for the day. currency holds its support at 1.5690 levels and good resistance is seen at 1.5890 level break of which will test 1.5900. currency is seen trading well above fast the moving averages .stochastic and RSI are also supporting the bull run.

Pound is expected to be on a bull note for the day. with the trading range is expected to be on 1.9910-1.9999 levels for the day. support for the currency is seen at 1.9890 levels and holds resistance at 2.003 levels for the day. Currency is trading well above the fast moving averages confirming the bull trend. Momentum and stochastic are supporting the green note.

Rupee eased due to high oil prices.-jun30.

Rupee eased due to record high oil prices which pumped up dollar demand from crude refiners and on concerns about political uncertainty surrounding a nuclear deal could trigger more outflows from the stock market.

Tech View:

Rupee is expected to trade in the range of 42.85-43.03 With good support seen at 42.80 and key resistance for the currency is seen at 43.10 levels. currency lies well above the fast moving averages. Macd and Momentum is supporting the bull run. Widen bollingers indicates volatility in the market.

AUSSIE HALTED THE 3 DAY GAINS.-JUN 27.

Australian currency ended a three-day advance against the U.S. dollar and tumbled on concerns of credit-market write downs and record oil prices and on speculation that the central bank will cut interest rates.

TECH VIEW:
AUD is expected to have mixed movement for the day. Trading range of 0.9520-0.9620.Good support seen at 0.9510 and resistance for the currency is seen at 0.9640. Currency is seen trading well above the moving average supporting the bull trend.

EURO AND POUND ON A BULL RUN.

Green back fell against the Euro on growing prospects of a wider spread between U.S and Euro zone interest rates that is likely to favor the single European currency. pound leapt against the dollar to a seven-week high and was seen at 1.9883 after testimony from Bank of England Monetary Policy Committee supported the idea of a British rate increase in the near term.

Tech View:

Euro is expected to be on mixed note for the day. trading range is expected between 1.5640-1.5760 levels for the day. currency holds its support at 1.5620 levels and good resistance is seen at 1.5780 level. stochastic lies in the overbought area thereby signaling slight downward correction in the near term.

Pound is expected to be on mixed note for the day. trading range is expected to be on 1.9830-1.9950 levels for the day. support for the currency is seen at 1.9820 levels and holds resistance at1. 9960 levels for the day. higher levels may be further restricted since the stochastic is turning towards the downside .

Rupee weakened sharply on crude prices.- jun 27.

Rupee weakened sharply against the US as banks bought dollars noting that crude oil prices had risen to a record high and on expectations of foreign fund outflow from local shares. The sentiment for rupee has weakened after crude oil prices rose by $6 per barrel .

Tech view:

Rupee is expected to trade in the range of 42.75-42.90.With good support seen at 42.72 and key resistance for the currency is seen at 42.96 levels. currency has given a higher open and is seen trading on the moving averages. Stochastic and Relative strength index are hinting towards the bull note to continue for the day.

AUSSIE ON BULL RUN-JUN 26.

Australian dollar climbed after the U.S. Federal Reserve gave no indication of the interest rate hike after leaving them unchanged .

TECH OUTLOOK:
AUD is expected to have downside movement for the day.Trading range of 0.9540-0.9640.Good support seen at 0.9520 and resistance for the currency is seen at 0.9650. Currency is seen trading well above the moving average supporting the bull trend.

EURO ON A BULL RUNBUT POUND MIXED-JUN 26.

Euro drew support from a strong rise in eurozone industrial orders, which jumped 2.5 percent in April from March, much better than the 0.5 percent expected by economists. Pound came off early highs after a Bank of England rate-setter expressed concern about the economy.

TECH OUTLOOK:

EURO is expected to be on mixed note for the day. the direction of the currency is towards 1.5730 levels where its may have slight downward correction at this level. currency lends its support at 1.5590 levels and holds resistance at 5730 levels. trading range is expected between 1.5610-5710 levels for the day. stochastic trends upper side for the day.

Pound is expected to be on mixed note for the day. trading range is expected to be on 1.9670-1.9790 levels for the day. support for the currency is seen at 1.9630 levels and holds resistance at1. 9795 levels for the day. momentum is trending upwards thereby indicating the currency to be upper side for the day yet the higher levels may be further restricted since the stochastic cautions of downward correction in near term .

RUPEE ON FREASH HIGHS--jun 26

Rupee climbed to fresh highs as bank sold dollars to tide over a cash crunch in domestic money market,while firmer Asian stocks underpinned the sentiments.

Tech view:

Rupee is expected to give a slight correction upwards. It is expected to trade in the range of 42.62-42.78.With good support seen at 42.58 and key resistance for the currency is seen at 42.80.Currency has tested the Lower Bollingers and is seen trading below the fast moving averages confirming the bear trend. But the chart pattern hints towards a small upward correction.

Aussie climbed on speculation-jun 25.

Australian dollar climbed on speculation the Federal Reserve will delay raising interest rates, maintaining the yield advantage offered by the two South Pacific nations.

Tech view:
Aussie is expected to continue its bull run with the trading range of 0.9520-0.9600 levels for the day. Good support is seen at 0.9500 and key resistance for the currency is seen at 0.9620 levels. Currency is seen trading well above the fast moving averages supporting the bull run. View receives support by momentum and parabolic.

sterling on mixed note.

Pound weakened as U.K. Hosing market and mortgage approvals slumped. Sterling
is expected to be on a mixed note With the trading range expected between 1.9640-1.9750. currency lends its support at 1.9620 levels and holds resistance at 1.9780 levels. MACD holds the bull view for the day. Currency is seen trading on the moving averages and stochastic remains silent on the issue. Parabolic is supporting the bull view.

Euro changed before FED meet.-jun 25.

Greenback changed little against Euro Before Fed ends the two day meet at which policy makers forecast to end run of seven interest rate cuts.

Tech View:
Euro is expected to trade in the range of 1.5490-1.5650.With good support seen at 1.5460 and key resistance for the currency is seen at 1.5680 break of which will see Euro at 1.5730 levels. Both stochastic and RSI is giving indication towards the bull run and is also seen trading well above the fast moving averages. But momentum remains silent on the issue.

Rupee strengthened after RBI's decision.

Indian rupee appreciated against the dollar after the Reserve Bank of India raised the repo rate to 8.5 percent from the current 8.0 percent with immediate effect. Further the bank also hiked the Cash Reserve Ratio to tame the inflation.

Tech View:
Rupee is expected to give a small downside correction after a week of range bound move .It is expected to trade in the range of 42.78-42.94.With good support seen at 42.72 and key resistance for the currency is seen at 42.98.Currency has breached the fast Moving averages and is trying to test the lower Bollingers.

AUSSIE EASED AGAINST GREENBACK.

Australian dollar eased against the Greenback, taking a breather from a six-day rally, ahead of a crucial Federal Reserve meeting which will be eyed for cues on future monetary policy.

TECH VIEW:
AUD is expected to have a profit booking for previous bull run. Trading range of 0.9400-0.9530.Good support seen at 0.9390 and resistance for the currency is seen at 0.9550.Stochastic remains flat. Momentum in upward trend but holds the bull note only for near term.

EURO AND POUND MIXED AHEAD OF FED--JUN 24.

Greenback opened weaker against Euro after poor economic data from the Euro zone caused the Euro to fall against the US dollars. Pound Advances As BoE Running Out Of Alternatives To A Rate Hike.

Tech outlook:
Euro is expected to be on a mixed note for the day. Trading range is expected between 1.5420-1.5595 levels for the day .Support is expected between 1.5380 and resistance is seen at 1.5610 levels. stochastic remains in neutral territory thereby waiting for the clues from currency movement. Moving average supports sideways movement of the currency.
GBP is expected to follow the mixed rally With the trading range expected between 1.9610-1.9730. currency lends its support at 1.9570 levels and holds resistance at 1.9780 levels. MACD holds the bull view in near term .stochastic remains silent on the issue.

RUPEE IN NARROW TRADE.

Rupee was little changed against the U.S. dollar as banks refrained from taking big dollar positions on views that Reserve Bank of India may sell dollars through government-owned banks and restrict the local unit's movements. There is hardly any trade happening in the market. Banks are not taking positions expecting RBI to sell dollars.
TECH VIEW:
Rupee is expected to trade in a tight range of 42.90-43.02.With good support seen at 42.85 levels and key resistance is seen at 43.06levels. Currency is seen trading above the moving average. Stochastic lies in overbought area giving a caution for the currency to show downside correction in near term .

Australian dollar headed for weekly gains.-jun 20.

Australian dollar headed for weekly gains on speculation the nations will maintain their interest-rate advantage over the U.S. as the Federal Reserve may delay raising borrowing costs.

Tech View:

AUD is expected to trade on a bull note for the day With the trading range of 0.9470-0.9550.Good support seen at 0.9450 and resistance for the currency is seen at 0.9570.Stochastic is giving indication of a bull run and the currency is also seen trading well above the moving averages but Momentum is remaining silent on the issue as it is seen flat.

British Pound took a ride from hawkish BoE commentary-jun 20.

British pound took the biggest bite out of the US dollar on hawkish commentary that the central bank is looking to increase the benchmark interest rate later this year.

Tech View:
GBP is expected to be on downtrend for the day. With the trading range of 1.9640-1.9800. currency lends its support at 1.9620 levels and holds resistance at 1.9820 levels. RSI and stochastic is trending downwards thereby supporting the currency to be on a bear note for the day. Sterling is expected to give a downside correction for the bull run. Momentum remains silent on the issue

Euro trimms gains.

Euro trimmed gains against the greenback as it fell to 1.55 on speculation the Federal Reserve will hold off from raising interest rates next week to support the U.S. Economy

Tech View:
Euro is expected to be on a bull note for the day. Trading range is expected between 1.5470-1.5570 levels for the day .Support is expected between 1.5450 and resistance is seen at 1.5590 levels. stochastic and Relative Market strength index is pointing towards the bull run to continue for the day. But Momentum is trending down indicating that uptrend is likely to lose its strength.

Rupee on abull note tracking weaker oil prices-jun 20

Rupee was seen marginally higher taking cues from weaker oil prices and firm stock prices. Inflation data raising to 13 year high of 11.05%.

Tech view:

Rupee is expected to trade trade in a tight range of 42.88-43.00.With good support seen at 42.83 levels and key resistance is seen at 43.042 levels. Currency is seen trading above the moving average. Stochastic lies in overbought area giving a caution Tightened Bollingers indicates the currency to have a tight trading range for the day.

Aussie rose for third day.-jun 18

Australian dollar rose for a third day on speculation that the U.S. Federal Reserve will delay increasing borrowing costs, making higher- yielding assets more attractive.

Tech view:
AUD is expected to trade in a mixed note for the day With the trading range of 0.9380-0.9470.Good support seen at 0.9350 and resistance for the currency is seen at 0.9490.Stochastic and Momentum are hinting towards a small market correction. currency is seen trading between the fast and slow moving averages giving indication of a sideways movement for the day .

Euro and Pound giving slight downside correction.

Euro as investors bet the Federal Reserve will keep interest rates unchanged next week while the European Central Bank increases borrowing costs next month. British pound fell on speculation of minutes from the Bank of England meeting. BoE said the rate outlook was uncertain, despite higher than expected inflation data.

Tech Outlook:

Euro is expected to be on downtrend for the day. Trading range is expected between 1.5470-1.5550 levels for the day .support is expected between 1.5430 and resistance is seen at 1.5570 levels. stochastic is seen on downtrend and signaling for the bear note for the day. Momentum is also signaling downward and supports the same.

GBP is expected to be on downtrend for the day. With the trading range expected between 1.9460-1.9640. currency lends its support at 1.9420 levels and holds resistance at 1.9660 levels. RSI and stochastic is trending downwards thereby supporting the currency for the bear note to continue for the day. Momentum remains silent on the issue waiting for clues from movement of currency.

Rupee on a thin trade.

Rupee was little changed from close as banks avoided taking major positions amid lack of clear cues from overseas markets

Tech Outlook:
Rupee is expected to trade sideways .With the trading range of 42.80-42.98.With good support seen at 42.75 levels and key resistance is seen at 43.00 levels. Currency is seen trading on the moving average. Stochastic lies in overbought area giving a caution signal.

Aussie pared gains.-jun 17

Australian dollar pared gains after the central bank said in the minutes of its last meeting two interest-rate increases this year will slow growth and may be enough to cool inflation. New Zealand's currency advanced.

Tech View:
AUD is expected to trade in a mixed note for the day With the trading range of 0.9380-0.9480.Good support seen at 0.9350 and resistance for the currency is seen at 0.9490.Stochastic and Momentum are hinting towards a bull run. But currency is seen trading well below the fast moving averages and histograms are also pointing towards the downtrend.

greenback fell against yen-jun 17

The dollar fell into the upper 107 yen range after trading at the lower 108 yen level as some investors sold it to secure gains amid a dearth of market-moving events.

Tech View:
Yen chart pattern gives indication of a small bearish correction for the day. support is seen at 107.20 and holds resistance at 108.70.Trading range is expected between 107.30-108.50 levels for the day. Stochastic and Momentum are signaling towards a downside market correction. But currency is still trading well above the moving averages,only a breach below it can confirm the trend.

Euro strengthened against greenback-june17

The Euro strengthened against U.S. dollar as a fresh inflation data fueled speculation that the European Central Bank may raise interest rates as early as next month. But it remains uncertain whether the ECB will implement a rate hike in July as Germany's June economic sentiment indicator due out later in the day is expected to be bad.

Tech Oulook:
Euro is expected to give a bull run for the day. support for the currency is seen at 1.5460 levels and resistance is seen at 1.5620 levels. The trading range is expected between 1.5490-1.5600 levels for the day. Stochastic and RSI are giving indication for the bull run to continue for the day. Range studies also supports the view. currency is also seen trading above the fast moving average.

Rupee trading sideways.-june 17

Rupee was marginally higher against the dollar as few banks were said to be selling dollars noting the greenback's fall against major currencies. Softening global oil prices calmed worries of a widening trade deficit but a subdued outlook for stocks kept traders uneasy about foreign flows.

Tech Outlook:

Rupee is expected to trade sideways .With the trading range of 42.80-42.96.With good support seen at 42.75 levels and key resistance is seen at 43.00 levels. Currency is seen trading on the moving average. Stochastic lies in overbought area giving a caution signal.

Aussie expected to small upward correction-jun13

Aussie did receive a boost from the rally in commodities but failed to reclaim the 0.9500 level.
AUD is expected to give a small upward correction for the day. Support is seen at 0.9300.Key resistance is seen at 0.9450 levels. With trading range expected between 0.9320-0.9440 levels. Currency is seen trading below the fast moving averages. But stochastic has turned from the oversold territory supporting the upward correction in the counter.

Sterling bounced off lows

The Sterling bounced off lows in line with general USD weakness but the economic data continued to show a weakening economy. Looking ahead, Bank of England inflation attitudes survey is released.

Tech View:

GBP is expected to be on mixed note for the day. With the Trading range of 1.9380-1.9530 support for the currency is seen at 1.9350 levels and holds resistance at 1.9550 levels. levels. Momentum trends downwards supported by MACD. Stochastic is seen flat and the currency has tested the lower Bollingers so slight correction upwards is possible.

Euro gained on oil rally-jun13

The Euro gained as oil rallied and ECB members reiterated that a rate hike in July was possible. French CPI came in strong at 0.5% (m/m) on rising energy costs increasing from Aprils 0.3%. Looking ahead, the ECB Bulletin is released along with the Euro zone April Industrial Production expected to come in flat at 0.0%.

Tech View:
Euro is expected to be on mixed note for the day. support for the currency is seen at 1.5320 levels and resistance is seen at 1.5610 levels. The trading range is expected between 1.5350-1.5580 levels for the day. Stochastic and RSI are at oversold region giving a caution signal. currency is trading well below the moving average giving bearish crossover indicates the downward trend to continue for the day.

Rupee weakened.-jun13

The rupee weakened , weighed down by near record global oil prices which may intensify foreign fund selling in local stocks.

Tech note:

Rupee is expected to give a range bound movement for the day With the trading range of 42.75-42.95.With good support seen at 42.70 levels and key resistance is seen at 43.00 levels. Stochastic and Relative Market strength index are trending up but an element of caution required as it is seen in overbought levels. Bollingers indicates a tight range for the currency.

evening report

RUPEE pared gains as some banks bought dollars for importers. Dollar sales from exporters prevented further rupee fall. Premiums sharply up as US-India rate spread differential widens after RBI repo rate hike Wed. The dollar hit a one-month high versus a basket of major currencies as investors continue to reassess U.S. and Euro zone rate expectations. Euro fell sharply and sentiment were further undermined as France's economy minister Christine Lagarde casted a shadow over expectations for a European Central Bank rate hike in July .Greenback gained considerable ground on the Sterling, rising to 1.9480 as the Inflation expectations in UK rose to a new series high. Yen moved in a very narrow range for the day on speculation that interest rates will be kept unchanged amid concerns that the world's second largest economy is weakening. Aussie weakend on speculation that the weakening labor market may signal that the RBA has tightened enough to cool the economy and would keep rates on hold at their next policy meeting.

evening report

RUPEE pared gains as some banks bought dollars for importers. Dollar sales from exporters prevented further rupee fall. Premiums sharply up as US-India rate spread differential widens after RBI repo rate hike Wed. The dollar hit a one-month high versus a basket of major currencies as investors continue to reassess U.S. and Euro zone rate expectations. Euro fell sharply and sentiment were further undermined as France's economy minister Christine Lagarde casted a shadow over expectations for a European Central Bank rate hike in July .Greenback gained considerable ground on the Sterling, rising to 1.9480 as the Inflation expectations in UK rose to a new series high. Yen moved in a very narrow range for the day on speculation that interest rates will be kept unchanged amid concerns that the world's second largest economy is weakening. Aussie weakend on speculation that the weakening labor market may signal that the RBA has tightened enough to cool the economy and would keep rates on hold at their next policy meeting.

Aussie following commodity rally.-jun12

Australian Dollar did receive a boost from the rally in commodities but failed to reclaim the .9500 level. Australian jobs data with 13.5K jobs and no change in Unemployment rate at 4.2%.

Tech view:
AUD is expected to be on the downtrend for the day. Support is seen at 0.9300 and breach of it could test new lows. The resistance is seen at 0.9510 levels. trading range is expected between 0.9310-0.9495 levels. momentum trends for downside for the day. stochastic remains oversold area thereby taking the currency to be downside trend for the day.

Yen came off multi month high

Yen came off new multi month high as equities turned negative in the European session on banking concerns. 1st Quarter GDP came in stronger than expected at 1.0% but caused little reaction as the figure still indicates sluggish growth.

Tech View:

Yen is expected to be on upper side for the day. support is seen at 106.30 and holds resistance at 108.20.trading range is expected between 106.40-107.90 levels for the day. the stochastic lies in the bull territory and signals for the continuation for the day. currency is above the moving average yet momentum cautions for a downward correction in near term.

sterling bounced off lows.

Sterling bounced off lows in line with general USD weakness but the economic data continued to show a weakening economy. Claimant Count Change came in weaker at 9K. The Average Earning Index was expected to rise to 4.1% . The April Trade Balance also continues to worsen falling to -7.6 Bln deficit .Looking ahead for Bank of England inflation attitudes survey .

Tech View:
GBP is expected to be on downtrend for the day. support for the currency is seen at 1.9480 levels and holds resistance at 1.9690 levels. Trading range is expected between 1.9485-1.9670 levels. Momentum trends downside for the day . MACD also supports the same. Stochastic is trending downwards thereby supporting for bear run to continue for the day.

Euro gained on the back of oil rally

The Euro gained as oil rallied and ECB members reiterated that a rate hike in July was possible. Currency received support from the French CPI which came in strong at 0.5% on rising energy costs .Looking ahead for the ECB Bulletin along with the Eurozone April Industrial Production which is expected to come flat at 0.0%.

Tech View:
Euro is expected to be on mixed note for the day. support for the currency is seen at 1.5360 levels and resistance is seen at 1.5620 levels. The trading range is expected between 1.5370-1.5610 levels for the day. Stochastic and RSI still lies in neutral territory waiting clues from movement of the currency. currency is trading below the moving average and bearish crossover indicates the downward trend to breach the support level.

Rupee rose after RBI hiked repo rate.-jun12

Rupee rose against U.S. dollar as banks sold the greenback after Reserve Bank of India hiked its repo rate 25 basis points to 8% to tame inflation.

Tech View:

Rupee is expected to be trade in the range of 42.72-42.93.With good support seen at 42.66 levels and key resistance is seen at 43.00 levels. Stochastic and Relative Market strength index are giving hints towards the possibility of small downside market correction for the day. And the currency is also seen trading below the fast moving averages supporting the view.

BULL'S EYE ON YEN-JUN11

Japanese Yen was broadly offered even as equities turned negative giving the USD/JPY impetus to break through the 107 level. Aprils Machinery Orders rose 5.5% much stronger then the 2.6% economists fore casted. . Final GDP revised up 1.0% expected for the first quarter.

tech view:

Yen chart pattern indicates the currency to be on bull note for the day. With the trading range expected between 107.00-108.20.Support for the currency is seen at 106.80 levels and Key resistance is seen at 108.40 levels .Stochastic is giving an indication for the currency to be on a bull note but an element of caution is required as it is seen in overbought levels .Parabolic Analysis is helping the currency to stay in green.

Japanese Yen was broadly offered even as equities turned negative giving the USD/JPY impetus to break through the 107 level. Aprils Machinery Orders rose 5.5% much stronger then the 2.6% economists fore casted. . Final GDP revised up 1.0% expected for the first quarter.

AUD broke the lower range-june11

The Australian Dollar broke through the lower range as gold continued to fall and USD strengthened.
Tech view:

AUD chart pattern indicates the currency to be on bearish note for the day. With the trading range of 0.9400-0.9480.Currency has good support 0.9390 levels and holds resistance at 0.9500 levels. Currency is seen trading well below the moving averages confirming the bear note but slight upward correction is expected as stochastic lie in overbought level.

Bull's eye on yen

Japanese Yen was broadly offered even as equities turned negative giving the USD/JPY impetus to break through the 107 level. Aprils Machinery Orders rose 5.5% much stronger then the 2.6% economists fore casted. Final GDP revised up 1.0% expected for the first quarter.

Tech View:
Yen chart pattern indicates the currency to be on bull note for the day. With the trading range expected between 107.00-108.20.Support for the currency is seen at 106.80 levels and Key resistance is seen at 108.40 levels .Stochastic is giving an indication for the currency to be on a bull note but an element of caution is required as it is seen in overbought levels .Parabolic Analysis is helping the currency to stay in green.

sterling in the jaws of bears.-JUN 11

The Sterling traded lower against the greenback but held its ground on the crosses quite well. Flat Economic data provided little support, April Industrial production came in at 0.2% better than the 0.0% forecast and Manufacturing came in at 0.1% slightly better than 0.0% forecast. Looking ahead, Claimant Count Change expected at 8K for May along with the Average Earning Index expected to rise to 4.1% from 4.0%. The April trade Balance is also released with the market expecting a narrowing deficit from -7.4Bln to -7.3Bln.

Tech view:

Pound is expected to be on a mixed note for the day. With the trading range of 1.9480 -1.9620 levels. Good support is seen at 1.9640 levels and key resistance is seen at 1.9650 levels. stochastic and Momentum are seen flat remaining silent on the issue .Currency is also seen trading well below the moving averages.

Euro bowed to usd Momentum-JUN11

The Euro bowed to the USD momentum with stronger industrial numbers failing to slow the descent. French industrial Production for April came in strong at 1.4% and Italian Industrial Production also picked up to 0.7% vs.. Looking ahead, French CP expected at 0.4% up from 0.3% last month

Tech View:
EURO is expected to be on mixed note for the day. With the trading range expected between 1.5420-1.5550 levels. Good support for the currency is seen at 1.5400 levels and holds resistance at 1.5580 levels for the day. Momentum is giving an indication of the bull trend supported by parabolic. But caution is required as the currency still lies below the fast moving averages.

Rupee was marginally up against greenback.-JUN11

Rupee was marginally up against the greenback as some banks sold dollars noting the overnight retreat in global crude oil prices .Easing crude prices could comfort oil companies and reduce dollar demand from them,However, most banks will be deterred from going overly long on dollars on expectations of dollar sales from government-owned banks on behalf of Reserve Bank of India.

Tech View:

Rupee is expected to be trade in the range of 42.85-43.08.With good support seen at 42.78 levels and key resistance is seen at 43.15 levels. Stochastic and Relative Market strength index are supporting a bull run in the currency. Indian unit is also seen trading well above the fast moving averages and is expected to test the upper Bollingers.

EVENING REPORT

Rupee extended loss and closed at 42.97 as banks continuously bought the greenback to meet demand from foreign institutional investors. There is mostly demand from foreign funds as local shares were seen weak. However, Indian unit could not breach the 43/$1 mark despite the strong demand as some state-run banks sold dollars around 42.97/$1for the Reserve Bank of India. The dollar was broadly stronger after comments from Fed Chairman Ben Bernanke fueled speculation that the central bank would raise interest rates sooner than most expected. The European single currency declined to a 5-day low of 1.5525 against the dollar and The Statistical office INSEE reported that French industrial output grew 1.4% month-on-month in April compared with a revised fall of 1% in March. The dollar rose to a more than three- month high against the yen on concerns of remarks that U.S. economy have diminished, prompting traders to increase bets on higher interest rates. The pound snapped a three-day gain against the dollar as an industry report showed a squeeze on mortgage lending kept U.K. house price declines close to the most widespread level in at least three decades. The Australian dollar fell the most in 11 weeks slid to near a four-month low after U.S. Treasury Secretary said he would ``never'' rule out currency intervention.

STERLING SEEN MIXED

The Sterling had a fairly positive day as May PPI input at 3.8% showed the fastest annual rate of costs increase since 1986, reiterating inflation fears on concerns producers will pass the price pressures on. RICS House Price balance better than expected falling to -92.9% .Looking ahead for April Industrial Production is expected at 0.1%.

TECH VIEW FOR THE DAY 10.06.2008
Pound is expected to give a downward correction for the day. With the trading range of 1.9630 -1.9740 levels. Good support is seen at 1.9600 levels and key resistance is seen at 1.9780 levels. stochastic signals for the downward movement of the currency supported by Momentum. But an element of caution is required as the currency is still trading above the fast moving averages.

RUPEE SEEN WEAK-JUN 10

Rupee weakened against the U.S. dollar because most foreign banks were said to be buying the greenback anticipating demand from foreign funds as local shares were down about 1%.

TECH VIEW:
Rupee is expected to be trade in the range of 42.75-43.02.With good support seen at 42.70 levels and key resistance is seen at 43.06 levels. Stochastic and Relative Market strength index are supporting a bull run in the currency. Indian unit is also seen trading well above the fast moving averages and is expected to test the upper Bollingers.

AUSSIE TRACKING EURO MOVEMENTS

The Australian Dollar traded in a large range tracking the Euro higher then falling to 3 week lows on weaker commodities and stronger USD. Looking ahead for April Housing Finance which s expected to show a further decline at -2.0%.

TECH VIEW:
AUD chart pattern indicates the currency to be on bearish note for the day. With the trading range of 0.9420-0.9520.Currency has good support 0.9400 levels and holds resistance at 0.9540 levels. Currency is seen trading well below the moving averages confirming the bear note,view gets a support from the pivot analysis.

YEN SEEN IN GREEN

Yen was broadly offered as equities recovered .Looking ahead for Core Machinery orders and Machine Tool Orders.

TECH VIEW:

Yen chart pattern indicates the currency to be on bull note for the day. With the trading range expected between 106.00-107.50 . Support for the currency is seen at 105.80 levels and Key resistance is seen at 107.80 levels .Stochastic gives an indication for the currency to be on a bull note and it is supported by MACD. Pivot Analysis is helping the currency to stay in green.

EURO ON MIXED NOTE

Euro (EUR) had a volatile day testing new multi month highs at the start of the European session before the strong US data and hawkish US comments weighed heavy on the single currency, encouraging a test of the downside. Looking ahead for French Industrial Production fore casted at 0.3%.
tech for the day(10.06.2008)

EURO is expected to be on mixed note for the day. With the trading range expected between 1.5520-1.5700 levels. the support for the currency is seen at 1.5480 levels and holds resistance at 1.5730 levels for the day. stochastic and momentum remains flat waiting for further clues from market. But moving averages are giving bullish crossovers which is supported by parabolic

Evening Report-jun 09

Rupee closed near 42.87 pressured by heavy losses in the stock Market raising concerns that foreigners may intensify selling their stock holdings and record oil prices.Dollar's appeal was hit by news of the biggest jump in the U.S. unemployment rate denting expectations that the Federal Reserve will hike interest rates before the year is out.The euro hit a six-week high versus the dollar bolstered by expectations of a European Central Bank rate hike next month.The pound got a rare boost from higher than expected UK factory gate inflation data, but it remained pressured near an all-time low versus the euro as a slew of weak UK data in recent weeks has undermined confidence in the UK economy.The dollar continued to advance against the yen driven by buying from Japanese importers following the greenback's decline. .

Aussie in tight range.

The Australian Dollar traded in a tight range pivoting the .9600 level although finished the week bid on a very strong rally in commodities.

Tech view:
AUD chart pattern indicates the currency to be on downside for the day. trading range is expected between 0.9580-0.9640. currency has good support 0.9535 levels and holds resistance at 0.9660 levels. stochastic indicates the downtrend to continue for the day. momentum also supports the same.

Pound taking direction from Euro.

The Sterling in a light data day the pound took its direction from the Euro bouncing off its lows after the Non Farm employment report. Looking ahead for May UK PPI Input with a forecast at 2.6%

Tech View:

Pound is expected to be down trend for the day. trading range is expected between 1.9630 -1.9740 levels. the support for the currency is seen at 1.9600 levels and resistance is seen at 1.9770 levels. stochastic signals for the downward movement of the currency for the day. Momentum also supports the same .

Euro bullish on weak U.S.data.

The Euro was buoyed by the weak US data, surging Oil and from Trichet comments last week regarding a possible rate hike as early as July. Looking ahead for German Trade Balance expected at 15.5B surplus.

Tech view
EURO is expected to be on mixed note for the day. trading range is expected between 1.5710-1.5830 levels. the support for the currency is seen at 1.5680 levels and holds resistance at 1.5850 levels for the day. stochastic still remains in the overbought area expecting the currency to be on upper side . but downward correction is expected at resistance levels. momentum remains flat thereby waiting for further clues from currency movement

Rupee weakend gainst greenback.-jun 09.

Rupee weakened by spurt in dollar sales by a state-owned bank . currency fell sharply in opening trades after the surge in crude oil prices and weakness in share indices across the world which prompted local banks to buy dollars expecting strong follow through demand from oil companies and foreign funds.

Tech view:
Rupee is expected to be trade in the range of 42.78-43.02.With good support seen at 42.70 levels and key resistance is seen at 43.06 levels. Stochastic and Relative Market strength index are supporting a bull run in the currency. Indian unit is also seen trading well above the fast moving averages and is expected to test the upper Bollingers.

Aussie in tight range.

Australian Dollar kept to a fairly tight range as conflicting forces pushed and pulled, USD strength and gold weakness weighed early on the Aussie which recovered to highs on ECB comments and the commodities rally. In economic news Aprils Trade Balance came in stronger than expected at -.95B.

Tech View:
AUD chart pattern gives cues for the bull note . Trading range is expected between 0.9560-0.9630.With good support is seen at 0.9540 levels and key resistance at 0.9650 levels. Currency is seen trading well above the moving averages but a element of caution is given by momentum and stochastic which are trending down.

sterling folowed euro

Sterling traded at weekly lows before the Bank of England decision to keep rates on hold prompted a recovery which was extended by Euro.

Tech View:

Pound chart pattern indicates a mixed note for the currency .with good support seen at 1.9496 levels and resistance is seen at 1.9660 levels. Trading range for the day is expected between 1.9510-1.9640 levels for the day. stochastic is trending up but Momentum are seen flat an element of caution is required as the currency is seen trading below the moving averages.

Euro rebounded from weekly lows.

Euro traded at weekly lows on stronger US data but rallied over 2 big figures on Hawkish ECB comments. Citing the ECB mandate to anchor inflation expectations and said ECB will act in a timely manner. Looking ahead for German Industrial Production which is expected at 0.2%.Yen was sold heavily as key resistance levels were broken and equities rallied

Tech view:
Euro is expected to trade in the range of 1.5540-1.5670.With good support seen at 1.5520 levels and key resistance for the currency is seen at 1.5700 levels. Stochastic and Momentum are giving cues for the bull run and the moving averages also supports the view as it it seen trading well above the fast moving averages.

Rupee strengthenedwith Y.V.Reddy's comments-jun 06.

Rupee strengthened against U.S. dollar as banks sold the greenback following Reserve Bank of India Governor Y.V. Reddy's comment the central bank will utilize foreign exchange reserves for managing "the oil shock".Sentiment has improved slightly for the rupee after the comments from RBI.

Tech View:

Rupee is expected to be trade in the range of 42.58-42.90.With good support seen at 42.51 levels and key resistance is seen at 42.96 levels. Stochastic and Relative Market strength index are hinting towards the possibility of a slight market correction but an element of caution is required as the currency is seen trading well above the fast moving averages .

YEN IN TIGHT RANGE

Japanese Yen held a tight range as positive US news was contained by lackluster equities. Movement in the crosses were mixed, driven by the majors.

TECH VIEW:
Yen chart pattern indicates the currency to be on mixed note for the day. currency has good support at 104.70 levels and has good resistance at 106.20 levels. the trading range is expected between 104.80- 105.90 levels. the momentum gives slight indication for downward correction .stochastic remains in overbought levels and expects the same of downward correction in near term.

AUSSIE RECEIVED A BOOST FROM GDP FIGURES

Australian Dollar received a major boost on the back of strong GDP figures which came in at 0.6% showing the resilience of the Australian economy.

TECH VIEW:
AUD remains on bear note for the day. the day support is seen at 0.9480 levels and has good resistance at 0.9610 levels. the trading range is expected between 0.9485-0.9590 levels for the day. stochastic gives clues for downside trend for the day. RSI signals for bear note to continue for the day.

STERLING TESTING NEW LOWS.

Sterling tested new lows as the May Services PMI came in contraction for the first time in 4 years. Looking ahead for Monetary Policy Committee Interest rate statement which is widely expected to keep rates at 5.00%.

TECH VIEW:

Pound chart pattern indicates the currency to be downside for the day. the support is seen at 1.9436 levels and resistance is seen at 1.9610 levels. the trading range is expected between 1.9440-1.9590 levels for the day. stochastic is trending downwards thereby indicating the bear note to continue for the day. Momentum is trending downwards supporting the view of above

EURO TRADING LOWER ON SOURING SENTIMENT

The Euro traded lower on souring sentiment caused by weakening economic data. April retail sales came in much lower at -0.6%. Strong US data and a fall in Crude Oil prices also weighed. Today's focus turns to the ECB interest rate decision that is widely believed to be held at 4.00% by President Trichet.

TECH VIEW:
Euro is expected to be on bear note for the day. currency lends support at 1.5320 levels and holds resistance at 1.5490 .trading range is expected between 1.5330-1.5480 levels. stochastic is trending towards downside and gives clues foe the currency to be on downside for the day. MACD bearish crossover also supports the currency to be on downside.

RUPEE PARED LOSSES-JUN 05

Rupee pared losses against the greenback on dollar sales from state-run banks presumably on behalf of Reserve Bank of India. Indian unit is unlikely to fall sharply below the 43 per $1 mark today unless dollar selling from exporters subsides. Local share market opened weak tailing losses in global share indices and on fears of inflation rising further following hike in fuel prices.

TECH VIEW:

Rupee is expected to trade in the range of 42.80-43.00.With good support seen at 42.75 levels and key resistance is seen at 43.06 levels. Stochastic and Relative Market strength index are giving indication for the currency to be on a bull note for the day and the currency is seen trading above the fast moving averages giving confirmation on the bull note.

evening report-june04

Rupee pared losses against the greenback on dollar sales from exporters and closed at 42.78 rupees per $1 levels .However, dollar demand from oil companies and other importers kept the Indian unit under pressure. Rupee was stayed weak due to the fall in local shares which prompted some banks to buy dollars for foreign funds. The dollar was supported after Bernanke said interest rates are ``well positioned'' to promote growth and stable prices, signaling the Fed is done cutting borrowing costs. Euro zone retail sales fell 2.9% in April from the previous year. Euro showed mixed trading against its major counterparts. It declined to 1.5417 against the dollar before bouncing back and reached 1.5483 .The results of a key survey indicated that Euro zone services sector registered modest growth in May, as inflationary pressures accelerated in major economies in the region. The yen rose against the dollar as concern that credit-market related losses at banks will widen discouraged investors from buying higher-yielding assets funded with loans in Japan. Pound edged down today as the UK consumer confidence fell to the lowest level since May 2004. The Nationwide Building Society announced today that the consumer sentiment index eased 1 point to 69 in May from 70. The Australian dollar rose from a three-week low today after government data showed the economy grew at twice the pace economists expected last quarter.

AUSSIE ROSE EXPECTED BETWEEN (40.20-41.10).

Australia's currency rose from a three- week low after government data showed the economy grew at twice the pace economists expected last quarter.

TECH VIEW:
AUD is expected to be on mixed note for the day. the trading range is expected between 0.9474-0.9585 levels. currency lends its support at 0.9468 levels and holds resistance at 0.9590 levels. momentum seen in neutral territory .stochastic hints for upward movement of the currency for the day.

YEN EXPECTED AT (0.4005-0.4090)

Yen crept forward against most currencies on negative equities and rising risk aversion inspired by Lehman Brothers concerns Capital spending was made public at -4.9%.

TECH VIEW:
Yen chart pattern indicates the currency to be on upper side for the day. the trading range is expected between 104.30-105.80. the currency lends its support at 104.10 levels and holds resistance at 105.70 levels .momentum remains in upward direction thereby signaling the bull run to continue for the day. MACD remains silent on the issue and needs further movement to trend confirmation.

POUND EXPECTED TO TRADE (83.15-84.00)

Pound had a volatile day trading higher in line with the Euro shrugging off a poor Construction PMI of 43.9 which indicated a recession in the UK housing sector. Looking ahead for May UK services PMI due with a forecast at 50.4.

TECH VIEW:

Pound is expected to be downside for the day. the trading range is expected between 1.9570-1.9670.the currency lends its support at 1.9560 levels and holds resistance at 1.9675 levels for the day. MACD signals for downward correction. stochastic trending downwards supporting the view of bear note. momentum and RSI remains in neutral territory thereby waiting for further currency movement.

EURO EXPECTED TO TRADE BETWEEN (65.20-66.40)

Euro traded higher initially in Europe after revised 1st quarter GDP was slightly higher than anticipated Bernanke's pro Dollar comments which sent the Euro into free fall pushing the single currency lower.

TECH VIEW:

Euro chart pattern indicates the currency to be on mixed note for the day. the support is seen at 1.5365 and resistance seen 1.5540 levels . trading range is expected between 1.5370 -1.5535 levels. stochastic still in oversold but giving a slight indication for upward correction towards 1.5540 levels. the momentum trending downwards thereby clues for downtrend. currency is trading below the fast moving average and bearish crossover of MACD signals for the downward movement.

RUPEE STRENGTHEND AGINST GREENBACK-JUN 04

Rupee strengthened against U.S. dollar as some banks sold the greenback noting the overnight retreat in the global crude oil prices. The downward movement in crude oil prices has prompted some banks to sell dollars as they are expecting lesser demand from oil companies .Rupee also stayed firm as some banks sold the greenback on hopes of inflows from foreign funds as local shares are seen firm.

TECH VIEW:

Rupee is expected to trade in the range of 42.40-42.72.With good support seen at 42.38 levels and key resistance is seen at 42.76 levels. Stochastic and Relative Market strength index are giving indication for the currency to be on a bull note for the day but the currency is seen trading on the fast moving averages only crossovers can give confirmation on the trend.

Aussie rebounded on commodities.

Australian Dollar weighed down after much weaker then expected April Retail sales at -0.2% but performed well in the US session as commodities rebounded. Looking Ahead for RBA Interest Rate statement along with April Building Approvals.

Tech view:
AUD is expected to be on downside for the day. the support is seen at 0.9520 levels and resistance is seen at 0.9598 levels. the trading range is expected between 0.9530-0.9590 levels. MACD gives the clues for the currency to be on downside for the day. stochastic remains silent on the issue waiting for further confirmations. yet the chart pattern indicates the bear note for the day.

Yen made gains

Yen made solid gains yesterday as risk aversion returns on UK banking fears and European and US equities tumbled. Looking ahead for Japanese Monetary Base.

Tech View:
Yen chart pattern predicts the movement to be on downside for the day. support for the currency is seen at 103.50 levels and resistance is seen at 105.20 levels. trading range is expected between 103.60-105.10 levels for the day. RSI signals the currency to move on bear note for the day. MACD crossover clues for the downtrend to continue and currency below the fast moving average is noted for further confirmation of bear note.

Sterling gapped lower

The Sterling gapped lower on weekend reports that a Large UK lender Bradford and Bingley will issue a profit warning and its Chief executive will resign. Looking ahead for Halifax House Price Index (tentative) and Construction PMI.

tech view:

Pound is expected to be on downside for the day. good support is seen at 1.9550 and resistance seen at 1.9710 levels. trading range is expected between1.9560-1.9680 levels. stochastic indicates the bear note to continue for the day. currency is trending towards the lower band and momentum signals the downward movement to continue for the day.

euro traded at lows

The Euro traded at daily lows after the stronger the expected US data but rallied as commodities rallied. Looking ahead for April Euro zone PPI and Revised 1st quarter GDP

Tech View:
Euro is expected to be on downside for tech day. the currency lends its support at 1.5460 levels and holds resistance at 1.5610 levels. Trading range is expected between 1.5470-1.5600. the breach of support level may test new lows in near term. stochastic is trending downwards thereby giving the hint of bear movement for the day. currency is trading below the fast moving average and momentum signaling downwards supports the downside movement of the currency for the day.

Rupee slipped due to short covering-jun 3

Rupee slipped today with banks covering their short dollar positions anticipating demand from foreign institutional investors as local shares are seen weak. Shares were are seen mirroring the fall in overseas equity indices However dollar sales from exporters checked a sharp fall in the Indian unit around 42.55-42.60

Tech View:
Rupee is expected to be on a narrow trade for the day with the trading range of 42.40-42.65.With good support seen at 42.38 levels and key resistance is seen at 42.70 levels. Stochastic and Relative Market strength index are giving indication for the currency to be on a bull note for the day. But it can be confirmed only if the currency breaks above the fast moving averages.

EVENING REPORT-JUN 2

Rupee trimmed gains as importers stepped up demand for dollars.Some oil companies have been enquiring about buying dollars. . The over 2% fall in local shares also weighed on the Indian unit. Some banks also bought forward dollars noting the widening of India's trade deficit in April.The dollar continued to garner broad support, having rebounded on the prospect of eventual U.S. monetary tightening from 2 percent currently to deal with soaring inflation..The European currency showed weakness against the US dollar where the euro reached 1.5514, down from a 4-day high of 1.5569. Japanese yen advanced on speculation credit losses at banks are deepening, slowing growth and preventing policy makers from raising interest rates to fight inflation. pound plunged to new multi-day lows against its major counterparts .pound tumbled on news of problems at the UK's largest buy-to-let mortgage lendertherby showing a slump in Britain's property-market .

Aussie fell on retail sales

Australian dollar fell and government bonds rose after a government report showed retail sales unexpectedly declined, indicating two interest-rate increases this year may be slowing economic growth.

Tech View:
AUD is expected to be on downtrend for the day. the currency is trading below the fast moving averages signaling for downward movement. support is seen 0.94860 levels and holds resistance at 0.95760 levels. trading range is expected between 0.94870-0.95700 levels. stochastic is trending downwards and supports the bear note. momentum remains flat thereby supporting neither side. yet chart pattern indicates the bear note to continue for the day.

dollar extends its gain aginst yen

Dollar could extend its gains against the yen if U.S. data this week is stronger than expected and supports views that the Fed may start raising rates later this year against the backdrop of rising oil and food prices.

Tech View:

yen is expected to be sideways for the day. currency is trading on the fast moving average and expected to give a fall since momentum trending downwards. stochastic is still in overbought area and signals for a downward correction in near term. the currency lends its support at 104.30 levels and holds resistance at 105.80 levels. trading range is expected between 104.40-105.70 levels

Sterling fell against the greenback

British pound fell the most in three weeks against the dollar on speculation Bradford& Bangley Plc the U.K.'s biggest mortgage lender to landlords, will have to raise more capital as bad-debt provisions widened.

Tech View:
Pound is expected to be on downside for the day .currency lends its support at 1.96410 levels and holds resistance at 1. 98250 levels. the trading range is expected between 1.96500-1.98210 levels. currency is trading on the moving average and stochastic trending downwards thereby indicating the downside movement of the currency for the day. momentum also supports the currency to be on downside.

Profit Booking seen in Euro.

The dollar held broad strength after falling against the euro as investors booked profits from recent advances that pushed the U.S. currency to its first back-to-back monthly gains .Slowing growth in the euro zone is offset by views that rising inflation could push up rates.

Tech View:

EURO is expected to be on mixed note for the day. the currency lends its support at 1.5450 levels and holds resistance at 1.5640 levels. trading range is expected between 1.5460-1.5635 levels. the day stochastic is trending downwards thereby taking the currency to be on bear note. currency is trading below the fast moving average and narrow band indicates the currency to trade on tight range. yet momentum holds on upwards indicating the currency to have slight upward correction in near term.

Rupee expected to rise

Rupee is expected to rise in early trade today as banks could sell dollars on hopes of dollar supplies from exporters.Banks could also avoid going long on the dollar on expectations demand for the greenback could be subdued from oil companies today. Reserve Bank of India would provide short-term funds to state-run oil companies through special open market operations.

tech view:
Rupee is expected to trade in a mixed note with the trading range of 42.10-42.37 levels. With good support seen at 42.05 levels. Break of which will see 41.90.Key resistance for the currency is seen at 42.48 levels. currency is seen trading below the fast moving average .Stochastic and RSI are seen flat and currency is trying to testing the lower Bollinger in Band analysis .