BUY NEAR 388/399 EXPECTED TARGET 410/422/431 SL 380
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Thursday, 14 February 2013
TECHNICAL ON CURRENCY
TECHNICAL Impact
USD INR (FEB– Expiry)
US dollar is looking strong on charts hence buying is recommended in USD.
Buy around 53.9500 with a SL 53.8000 possible targets of 54.1200/54.2500/54.4000.
EUR INR (FEB – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.4325 with a SL 72.5300 possible targets of 72.3025/72.1800/72.0700.
OR
Buy above 72.5300 with a SL 72.4325 possible targets of 72.7025/72.8025/72.9000.
Currency Headlines
Won advances on benchmark interest rates remain unchanged.
South Korean won advances as the Central Bank keeps the interest rates unchanged which has given support to their currency. Bank of Korea kept the seven-day repurchase rate at 2.75 percent which has given support to their currency. The won gained 0.2 percent to 1,084.80 per dollar. It earlier rose as high as 1,084.27, near the strongest level since Feb. 6. One-month implied volatility for the won, a measure of expected moves in exchange rates used to price options, fell 10 basis points, or 0.1 percentage point, to 7.55 percent. Three-year government bonds dropped for a second day. The yield on South Korea’s 2.75 percent notes due December 2015 rose two basis points to 2.75 percent.
USD INR (FEB– Expiry)
US dollar is looking strong on charts hence buying is recommended in USD.
Buy around 53.9500 with a SL 53.8000 possible targets of 54.1200/54.2500/54.4000.
EUR INR (FEB – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.4325 with a SL 72.5300 possible targets of 72.3025/72.1800/72.0700.
OR
Buy above 72.5300 with a SL 72.4325 possible targets of 72.7025/72.8025/72.9000.
Currency Headlines
Won advances on benchmark interest rates remain unchanged.
South Korean won advances as the Central Bank keeps the interest rates unchanged which has given support to their currency. Bank of Korea kept the seven-day repurchase rate at 2.75 percent which has given support to their currency. The won gained 0.2 percent to 1,084.80 per dollar. It earlier rose as high as 1,084.27, near the strongest level since Feb. 6. One-month implied volatility for the won, a measure of expected moves in exchange rates used to price options, fell 10 basis points, or 0.1 percentage point, to 7.55 percent. Three-year government bonds dropped for a second day. The yield on South Korea’s 2.75 percent notes due December 2015 rose two basis points to 2.75 percent.
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