Forex Rates: Technical Reports 14-Jan

Scrip	Contract	S2	S1	PP	R1	R2
USDINR	27-Jan'12	51.33	51.54	51.66	51.86	51.99
	27-Feb'12	51.7	51.87	51.97	52.14	52.24
	28-Mar'12	52.02	52.18	52.27	52.43	52.53
EURINR	27-Jan'12	65.74	65.96	66.2	66.43	66.67
	27-Feb'12	65.19	66.4	66.6	66.81	67.02
GBPINR	27-Jan'12	78.9	79.13	79.29	79.52	79.68
	27-Feb'12	79.31	79.53	79.69	79.91	80.07
	28-Mar'12	80.03	80.06	80.08	80.12	80.14
JPYINR	27-Jan'12	66.75	67.08	67.39	67.72	68.03
	27-Feb'12	67.3	67.49	67.6	67.8	67.9

Currencies Technical Analysis 12-Jan

Scrip	Contract	S2	S1	PP	R1	R2
USDINR	27-Jan'12	51.63	51.88	52.02	52.28	52.42
USDINR	27-Feb'12	51.93	52.19	52.32	52.59	52.72
USDINR	28-Mar'12	52.18	52.45	52.59	52.86	53.01
EURINR	27-Jan'12	65.2	65.73	66.08	66.61	66.96
EURINR	27-Feb'12	65.66	66.16	66.47	66.97	67.28
EURINR	28-Mar'12	66.26	66.41	66.7	66.85	67.14
GBPINR	27-Jan'12	79.78	80.03	80.31	80.56	80.84
GBPINR	27-Feb'12	80.23	80.47	80.71	80.95	81.19
GBPINR	28-Mar'12	80.96	80.97	80.98	80.98	80.99
JPYINR	27-Jan'12	67.09	67.4	67.59	67.9	68.09
JPYINR	27-Feb'12	67.36	67.66	67.86	68.16	68.36

Currency Tips for Today

The Dollar is strengthening against Indian Rupee in long-term. Currently Dollar is moving in sideways and the USDINR is trading in oversold level. In USDINR HOLD SHORT positions as USDINR has formed a new 5 day high but the trend looks weak therefore, it would be better to buy above 53.173.

Support: 51.72-50.83-49.62-47.12.
Resistance: 53.20-53.36-53.52.

Strategy:
Sell if open below 52.556 with a strict stop loss at 53.037 or sell below 52.421. Do not buy untill it cross 53.173.

USDINR Trend for This Week

USD/INR is consolidating on charts so traders can use the strategy of sell on higher levels. If this week USD/INR sustains below the level of 52.9500 then below the level of 52.6000 USD/INR can test the level of 52.4000/52.2000/52.0500.

Resistance3- 54.3100
Resistance2- 53.5900
Resistance1- 53.1300
Pivot Point- 52.8700
Support1- 52.4100
Support2- 52.1500
Support3- 51.4300

STRATEGY
For this week 49.5000 and 48.0000 will act as major supports and 53.8000 and 54.9000 will act as major resistance in USD/INR.