Usd/inr December 2014 (expiry on 29th December): Only a break of 62.47 will trigger another wave of rise to 62.76 and 63.37. On the lower side 62.17 is the initial support with 61.94 as the key intraday support.
Short term view: Failure to break 63.96 by end December will result in a fall to 61.15 and 59.90 first. Initial resistance is at 62.76.
Euro/inr December 2014 (expiry on 29th December): It can rise to 78.02 and 78.47 as long as it trades over 77.32. There will be sellers only if euro/inr trades below 77.32 with 77.09 as the key intraday support.
Short term view: Euro/inr is basically stuck 75.32-78.72-80.70 zone. This range will be broken in the next two months and a new range will be formed.
Gbp/Inr December 2014 (expiry on 29th December): It can rise to 97.96 and 98.56 as long as it trades over 97.54. Key support till Friday is at 97.12.
Short term view: Cable needs to trade over 98.86 for the rest of the year to start another bull run to 100.36-102.20. Short term volatility will be very high.
Jpy/Inr December 2014 (expiry on 29th December): It needs to trade over 53.69 to prevent another selloff to 53.42 and 53.12. Initial resistance is at 53.17 and 53.42.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.