The Dollar Index is holding above the support around 107.75 quite well for now. A break past 109 will be needed to bring back bullishness in the Index. The Euro failed to sustain its rise past 1.0450 which is needed to head towards 1.05 or higher. Any break below 1.04 if seen can drag it towards 1.03-1.02. EURINR needs to sustain its rise past 90 to head towards 91, until then a range of 90-88 can hold. USDJPY has bounced well from support around 155 and there could be scope to see a rise back towards 158 in the near term. AUDUSD and Pound will have to rise past 0.63 and 1.24 to head toward higher resistance at 0.64 and 1.26 respectively. EURJPY has immediate upside capped at 164 and a break below 160 if seen, can drag it lower to 157-156. USDCNY has recovered a bit today and while above 7.25, it can rise back to previous levels. USDINR can hold the range of 86.60-86.20 in the near term.

Dollar Index (108.286) extended the fall to the immediate support at 107.75 yesterday before bouncing back to current levels. Still, a decisive break past 109 will be needed to make the outlook bullish again. Else, any break below 107.75 if seen, can drag it further in the near term, thereby delaying our targets on the upside.

EURUSD (1.0405) initially rose past 1.0450 but could not sustain and started coming off. Failure to sustain above 1.04 can make it vulnerable to test 1.0350-1.0300. On the upside, a strong break past 1.0450 can take it towards 1.0500-1.0550.

EURJPY (162.82) has been rising since the last few sessions but for now, the upside looks limited to 164. The cross can trade within its broad region of 160-164 for a while.

Dollar-Yen (156.49) has bounced well from the support around 155. For now, we are retaining our view of seeing a rise back towards 158. BOJ meeting is scheduled tomorrow but whether the rate hike happens or not is uncertain. Any break below 155 if seen, can be bearish for the pair.

USDCNY (7.2788) limited the fall to 7.2640. While the deeper support around 7.25 holds, the pair is likely to bounce back again. Our earlier expected target of 7.35 can get delayed or might not just happen if the pair breaks below 7.25.

Aussie (0.6275) is nearing the mentioned resistance at 0.63, a rise past which will be needed to test the higher resistance at 0.64. Else a dip from the mentioned resistance, if seen can take it down to 0.62-00.62.

Pound (1.2306) observed a high of 1.2375 before coming down. While the resistance at 1.24 and higher at 1.26 holds, the pair could be vulnerable to test 1.20 on the downside.

USDINR (86.4590) tested the high of 86.5925 before coming down exactly from our expected upper end of 86.60. Now, the range of 86.60-86.20 is likely to persist in the near term.

The US Treasury yields remain lower. View remains bearish. The yields can fall more from here before resuming its broader uptrend. The German yields have bounced slightly but are unlikely to sustain. The trend is down, and the yields can fall further from here. The 10Yr GoI is coming down in line with our expectation to test its key support.

The US 10Yr (4.60%) and 30Yr (4.82%) yields remain lower and stable. There is room to see 4.5%-4.4% (10Yr) and 4.7%-4.6% (30Yr) on the downside. Thereafter the broader uptrend can resume and target 5% (10Yr) and 5.2% (30Yr) over the medium-term.

The German 10Yr (2.53%) and the 30Yr (2.75%) yields have bounced slightly. While below 2.6% (10Yr) and 2.8% (30Yr), the view is bearish to see 2.4% (10Yr) and 2.6% (30Yr) on the downside.

The 10Yr GoI (6.7185%) is heading down towards 6.7%-6.65% in line with our expectation.

The Dow Jones, above 44000, could move further toward the upper end of its broader range of 41850-45100. DAX is steadily advancing toward 21300-21500, from where a potential reversal could emerge after rising to 21,500. Nifty, while maintaining its position above 23000, may see a rise within the 23,000-23,500 range. However, the risk of breaking below 23,000 and falling towards 22,800-22,500 remains as long as it stays below 23,500. Nikkei is trading below the upper boundary of its sideways range of 38,000-40,000. Monitor closely for price action near 40,000. Shanghai, having risen above 3,250, continues to stay bullish. While it remains above 3,250-3,200, it could move higher to 3,300.

The Dow (44156, 0.30%) continues to rise. The upper end of the 41850-45100 range can be tested now while the Dow sustains above 44000.

DAX (21254.27,1.01%) is rising towards 21300-21500 region as expected. The price action around 21500 will need a watch as reversal is possible from there.

Nifty (23155.35, 0.57%) is getting buyers below 23000. That keeps the chances high for a rise towards the upper end of the 23000-23400 range. But still need to be cautious. The chances of a fall to 22800-22500 will remain alive unless the Nifty gets a decisive break above 23500.

Nikkei (39830.06, +0.46%) is trading near the upper boundary of its range of 38,000-40,000, testing 40,000. A breakout above 40,000 could propel it toward 41,000. Conversely, failure to rise past 40,000 might keep the index within the range, with a potential decline toward 39,000-38,000.

Shanghai (3258.2929, +1.39%) has risen above 3,250. As long as it sustains above the 3,250-3,200 support zone, the index has scope to rise toward 3,300-3,350.

Crude prices are holding above their respective support levels and can rise towards 82-84 (Brent) and 77-79 (WTI) in the upcoming weeks. Gold and Natural Gas have risen, they can move further up towards 2800-2850 and 4.2-4.0 respectively. Silver is holding below its immediate resistance and can decline towards 31.0-30.5. Copper remains bearish towards 4.25-4.20 for the near term.

Brent ($ 78.97) and WTI ($ 75.26) are holding above their immediate support levels. A rise towards 82-84 and 77-79 respectively can be seen in the upcoming weeks.

Gold ($ 2765.20) has inched up slightly. We retain our view of seeing a rise to higher levels of 2800-2850 while above 2750.

Silver (31.37) is holding well below the immediate resistance at 32. Only a sustained break above this would revive our bullish view of 33-34. Else can fall back to 31.0-30.5 can be seen.

Copper (4.2925) continues to fall and can target 4.25-4.20 on the downside.

Natural Gas (3.9910) surged to a high of 4.0 yesterday as expected. It can rise further towards 4.2-4.4 in the near term.

No major data release yesterday and today.