India Forex has come out with its report on currencies
EUR: Euro is currently trading at 1.3258 levels. Risk sentiment is seen slightly after weak US Home sales data surfaced yesterday late evening prompting Investors to buy riskier assets. Looking ahead German Ifo Business Climate data is expected better today. Support is seen at 1.3137 levels (55 days daily EMA), Resistance is seen at 1.3273 levels. EUR/INR is at 65.28 levels. EUR/INR is like to trade in the range of 65.20 and 65.90 levels for the week. Short Term Bullish Medium Term Bearish.
GBP: GBP is currently trading at 1.5667 levels. The cable was in a free fall yesterday after BOE minutes showed two policymakers are more pessimistic about the UK economy and voted for a big increase in quantitative easing than the central bank implemented this month. Support is seen at 1.5500 levels while resistance is seen at 1.5707 levels (100 days daily EMA). GBP/INR is at 77.15 levels. GBP/INR is likely to trade in the range of 76.90
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