India Forex`s technical outlook on currencies

India Forex has come out with its report on currencies

EUR: Euro is currently trading at 1.3231 levels. Risk sentiment loses steam after the bailout package was approved as the news was already priced in and the market participants are concerned that the Greece new austerity measures will not be implemented in full and it is also likely to put Greece into further recession. Support is seen at 1.3145 levels ( 21Days daily EMA), Resistance is seen at 1.3257 levels (100Days Daily EMA). EUR/INR is at 65.08 levels. EUR/INR is like to trade in the range of 64.80 and 65.40 levels for the week. Short Term Bullish Medium Term Bearish.

GBP: GBP is currently trading at 1.5780 levels. Fading risk sentiment and weak Euro along with fragile UK economy outlook is put-ting downside pressure on the cable. Support is seen at 1.5740 levels (21 days daily EMA) while resistance is seen at 1.5790 levels (55 days 4 hrly EMA). GBP/INR is at 77.63 levels. GBP/INR is likely to trade in the range of 77.50- 78.00 levels today. Maintain short term Bearish and Medium term Bearish. Target 1.55 levels.

AUD: Audusd is on the rebound from today lows at 1.0609 after China's HSBC Manufacturing index improved in February, printing a read of 49.7 as opposed to 48.8 last month. AUD is currently trading at 1.0653 Levels. Immediate support comes at 1.0480 levels (55days daily EMA) While resistance is at 1.0680 levels. Short Term importers cover near 1.0600 levels. Short term Neutral. Me-dium term Bearish. Target: 1.0300-0400 levels.

JPY: Yen is currently trading around 79.84. The dollar has hit a fresh 6-month high against the Japanese yen ahead of China

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