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DAILY

USD/INR opened at 60.85 y’day and traded in the 60.74-60.86 range. Spot USD/INR closed at 60.94 , gain of 12 ps for USD as compared to prior day’s close of 60.82. Decline in Equities and US airstrikes in Syria dragged INR down. Sept USD/INR closed at 61.01 , gain of 9 ps for USD as compared to prior day’s close of 60.92 . Sep Euro/INR closed at 78.71, GBP/INR at 100 and Yen/INR at 56.28. Benchmark Nifty declined 1.58% y’day. DOW was down 116 points (0.68%) y’day . Nikkei was down 0.71% and Hang seng was down 0.49% y’day. Euro is now at 1.2850, Pound at 1.6392, Yen at 108.67. Commodities: Gold is now at USD 1226 and WT1Crude at USD 90.50. Interest rates: USD 10 Yr yield is at 2.54% and 3 m libor closd at 0.22%. Indian 10 yr benchmark yield closed at 8.46%. Economic news: New York Fed president William Dudley said that a strong dollar would mean "poorer trade performance, less exports, more imports". And, appreciation of the dollar would "tend to dampen inflation" and make it harder to achieve Fed's mandate. US began airstrikes against IS militants in Syria. Data Highlights: -US house price index climbed 0.1% m/m. -EU PMI(flash-mfrg) dipped to 50.5. -UK Public sector nett borrowing expanded to 10.9 bn and mortgage approvals declined to 41.6k. -Chinese PMI(mfrg) was better than the worst estimate and was reported at 50.5. Wednesday’s calendar: -US new home sales -German Ifo CURRENCY PAIR SPOT HI LO USD/INR 61 60.865 EUR/USD 1.2850 1.2900 1.2841 GBP/USD 1.6392 1.6414 1.6301 USD/JPY 108.67 108.98 108.24 Daily Support/Resistance table CurrencyPairs Pivot R1 R2 R3 S1 S2 S3 EURO/USD 1.2862 1.2883 1.2920 1.2941 1.2824 1.2803 1.2766 GBP/USD 1.6367 1.6433 1.6480 1.6545 1.6320 1.6254 1.6207 USD/JPY 108.69 109.15 109.43 109.89 108.41 107.95 107.67 USD/INR 60.94 61.01 61.07 60.88 60.81 MAJOR SUPPORTS/RESISTANCES AND TREND TABLE Curency Pair Supports Resistances Trend Remarks EURO/USD 1.2755 1.2995/1.3110 Down SIDE above 1.2995 GBP/USD 1.6270/1.6160/1.6050 1.6525 SIDE down below 1.6270 USD/JPY 107.45/106.80 110 UP Side below <107.45 USD/INR 60.74/60.66 61/61.17 UP Down below 60.74 USD/CHF 0.93 0.9450 UP Side below < 0.93 Technicals:Spot and Sept USD/INR contracts closed above all major moving averages. 20 day moving average(spot) is at 60.69. 50 day moving average(spot) is at 60.61. 200 day moving average is at 60.87. Daily MACD is in buy zone, implying important bottom at 60.20. Important resistances are at 61 and later at 61.17 and important supports are at 60.66/60.20. Spot closed above its average level of the day. Intra day supports and resistances for Sep contract are: PP: 61.01,S1: 60.94, S2: 60.87, R1:61.08, R2:61.15 Hedging strategy for USD/INR: Hedging decisions be taken according to comfort and accounting rates. CROSS CURRENCY TECHNICALS: EURO/USD: Trend is bearish in daily chart. The pair is below 50 and 100,200 day major moving averages. Major resistances are at 1.3110/1.3220. Next major support is at 1.2745. Daily MACD is in sell zone, implying an important top at 1.3430.Weekly MACD is in sell zone, implying important top at 1.3995. GBP/USD: Trend is sideways in daily chart. Daily MACD is in buy zone, implying important bottom at 1.6050 and weekly MACD is in sell zone, implying important top at 1.7191. The pair is below all major major moving averages. Next Important support is at 1.60. Important resistance is at 1.6475 and later at 1.6540. USD/YEN: The pair is trading above all major major moving averages. Daily MACD is in buy zone, implying important bottom at 101.20 and weekly MACD is also in buy zone, implying important bottom at 100.80. Important supports are at 107.45 and latar at 106.80 .Important resistance is at 110. Please call us for clarifications./Regards/(Sridhar S R) .

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