The USD/INR has turned choppy after an attempt to rise. However, it is gaining a negative bias and this can cause a decline to around 44.60 - 44.50.

We maintain that the base for the present move is at 1.30. So far the Euro has stayed above this base. However a move below 1.30 can have negative short term implications for the trend. Presently, conditions favour a move to 1.35.

The USD/JPY has slipped below 82.00 and has displayed the weakness we expected after this level is breached. The trend has weakened and further declines to 80.50 are expected.

The uptrend in the DXY has begun to subside. It is has slipped below 79.75 which we believe is a sign of short term weakness. However, for now, we expect a sideways drift in the trend.