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Currencies Weekly Technical Analysis by PINC Research

Sameer Kapoor 29 January 2011

Currencies: Dollar/Rupee: The USD/INR moved sideways with a positive bias during the last week. However, the uptrend may lose steam closer to 46.10 levels. The uptrend will be under threat below 45.30. Support can come at 45.30.

Euro/Dollar: After a good upmove for the last few weeks the EUR/USD may be tiring closer to around current levels. A move below 1.3640 can take it closer to 1.3550 level. Support on the downside will come at 1.3425 and 1.3350.

Dollar/Yen: The USD/JPY is in an uptrend and a move above 83.00 can take it closer to 84.00 level, Downsides will open up below 82.00.

Dollar Index - DXY: The DXY is trading near our support level of 77.00. It continues to appear weak however a pull back rally can take it closer to 79.00 level. The short term trend however, looks weak.