RAHUL BADHWAR, SENIOR MARKETING MANAGER, HSBC MUMBAI
* EURO/DOLLAR: "The euro closed on Friday in a bullish hammer candle and above $0.8920 (200-day moving average support). On the hourly charts, the euro is yet to close above $0.8950 or rally past $0.8995. Thus as long as $0.8950 caps the upside, we cannot rule out a test of $0.8860/30. A close above $0.8975 will be the first bull signal for a rally past $0.9080."
* DOLLAR/YEN: "The 120.55/65 region remains immediate resistance with 121.35 seen after that. There are some signs of a bottom being in place. Immediate support is at 120.00 and a break of that would open the way to support at 119.50. Ideally, this level will hold for a rally back towards 120.50."
* DOLLAR/SWISS FRANC: "A bearish candle pattern suggests a top is now in place. Ideally, 1.6460 must now cap the upside for a break below 1.6340 trendline support and then 1.6250. Failure to break below 1.6340 and a rally past 1.6460 would then call for a break above 1.6505 neckline resistance and a test of 1.6600."
* EURO/YEN : "The euro ended Friday in a bullish piercing pattern, but has failed to rally past the 108.10. This level is Elliot resistance and as long as it caps the upside we favour a test of 106.30, 106.00 and 105.50. Immediate support is at 107.15."
* STERLING/DOLLAR: "Immediate support for today comes in at $1.4545 and then $1.4520. Ideally, this latter level will now hold for a rally past $1.4685. The $1.4540 candle support continues to hold on a daily close basis and a close above $1.4610 candle resistance will be the first confirmation of a bottom in place."