Morning briefing: EUR/USD can trade within 1.1950-1.1750 region

The DXY can rise to 97.50/98 while above 97. EURUSD can trade within 1.1950-1.1750 region while EURINR seems to be rising towards 108/110 while above 106/107.
EURJPY has support near 180 above which a rise to 184/186 looks likely in the medium term while USDJPY can rise towards 154/156 while above 153. USDCNY trades above 6.90 and while it sustains higher, it can rise to 6.95. Crucial support is seen at 6.85. The Aussie can test 0.70/69 while below 0.71 while the Pound needs to break past 1.37 to head toward 1.38+ levels, else can initially test 1.35. USDINR can remain ranged within the 90.30-90.85 region for now with scope for a rise to 91.25/91.50 in the coming weeks.

The US Treasury yields have come down sharply after a weak housing data release on Thursday. The US Existing Home Sales fell to 3910K in January, down from 4270K in December. The Yields are now at their support. They have to rise back immediately in order to avoid more fall. The US CPI data release will be important watch. The German Yields remain lower and stable. They have to bounce back immediately. Else they can fall further. The 10Yr GoI has come down below its support. It can fall more from here and then see a reversal.

Global indices have turned weaker than expected. Dow and Nikkei have fallen and can see further downside unless key resistance levels are reclaimed. Shanghai also risks additional decline. DAX needs a sustained break above 25000 to regain upward momentum, otherwise it may slip further. Nifty is holding near support at 25750 and can bounce towards 26200–26400 as long as this level remains intact.

Crude prices have eased. Brent and WTI have fallen on softer US-Iran tensions but still holding within their broader $70–$66 and $66–$62 ranges. Gold and Silver remain under pressure, with downside targets intact. Copper has reversed lower and may decline further to $5.70. Natural Gas is gradually rising and can test $3.30–$3.50 in the near term.