The Dollar Index has immediate support near 99.50. While it holds above this level, the rise toward 101 remains in play. EURUSD & EURINR can decline within 1.16-1.15 & 103.75-102.00 range respectively. EURJPY is trading within 180-182 region. USDJPY has a scope to rise back towards 158 while it trades above 156. USDCNY can fall towards 7.07-7.065 before rebounding later. The Aussie can test 0.655 on the upside. Thereafter, whether the rise extends or not will have to be seen. Pound has declined a bit but the target of 1.33-1.34 is kept open while it trades above 1.32. USDINR can hold the 89.00-89.50 range in the near term.

Dollar Index (99.628) has a scope to extend the rise towards 101 as long as it sustains above 99.50. Only if a breach below 99.50 happens, can negate our bullish view and make the DXY vulnerable to extend the fall toward 99 or lower.

EURUSD (1.1583) & EURINR (103.5393) have resistance at 1.16 & 103.75 and while it holds, a decline within the 1.16–1.15 range for the EURUSD & 103.75-102.00 for EURINR can be seen in the coming sessions.

EURJPY (181.14) continues to consolidate between 180–182 region. A decisive break on either side will be needed for further clarity.

Dollar-Yen (155.97) is holding well above support near 156 but requires a follow-through rise above current levels to target 158 and higher. The overall view remains bullish as long as it stays above 156.

USDCNY (7.0788) has so far tested the low 7.0750 before recovering a bit. Still, there is further room in the charts for the pair to test the support zone near 7.070–7.065 before attempting a rebound later on.

Aussie (0.6532) is rising as expected and can soon test our target of 0.655. Thereafter, whether resistance there holds and triggers a pullback, or the pair extends toward 0.66 and higher remains uncertain at the moment. For now, a range of 0.64-0.66 is expected to hold for some time.

Pound (1.3231) has declined slightly from the high of 1.3268. However, the targets of 1.33-1.34 are kept alive while the pair trades above 1.32. Overall, the downside can be limited to 1.31.

USDINR (89.3720) is trading higher within its 89.00-89.50 range which is expected hold for some time. A rise above 89.50 if seen would shift focus initially to 89.75–90.00. The lower target of 88.75 remains open as long as the USDINR trades below 89.50.

The US Treasury yields are hovering around their support. Immediate resistances are ahead while below which a fall is still possible before a reversal is seen. The German Yields remain stable. Unless a strong rise is seen from here, a break below their immediate support and fall cannot be ruled out from here. The 10Yr GoI is bouncing back well from its support. The yield can rise more in the coming days.

The US 10Yr (4.01%) and 30Yr (4.65%) Treasury yields hover around their support at 4% and 4.65% respectively. A strong rise above 4.05% (10Yr) and 4.7% (30Yr) is needed to go up from here and avoid the fall to 3.9%-3.85% (10Yr) and 4.5% (30Yr).

The German 10Yr (2.68%) and 30Yr (3.32%) yields continue to remain stable. We repeat that a strong rise is needed from here. Else a break below the support at 2.65% (10Yr) and 3.3% (30Yr) and a fall to 2.5% (10Yr) and 3.1% (30Yr) cannot be avoided.

The 10Yr GoI (6.5049%) is holding well above 6.48% and is bouncing back. A rise to 6.55% is likely now. As mentioned yesterday, only a break below 6.48% will bring in the danger of seeing a fall to 6.45%-6.4%.

The Dow was closed yesterday for Thanksgiving Day, while the Dax has risen and can continue to target 24000-24200. Nifty needs to break above 26500 to keep the bullish momentum intact else can face a decline from there in the coming sessions. Till then, a rise to 26400/500 looks likely in the very near term. Nikkei has risen as expected and is now bullish towards 52000, while Shanghai can continue to rise towards 4000 while in the 3800-4000 trade range.

The Dow (47427.12, +0.67%) was closed yesterday for Thanksgiving Day. The index may continue to rise towards crucial resistance at 48000 which, if holds can produce a decline towards 47000-46000 again in the medium term.

DAX (23767.96, +0.18%) continues to rise above 23600, and while the rise sustains, the index can test 24000-24200 soon on the upside.

Nifty (26215.55, +0.039%) surged yesterday to test 26310 before coming off, to close lower at 26215.55. It is to be seen whether the index can rise above $ 26400/26500 in its current upmove.

Nikkei (50203.15, +0.072%) is holding well above 50000 as expected, and the index can rise slowly towards 52000.

Shanghai (3867.40, -0.20%) may continue to trade within the 3800-4000 region for the near term and slowly rise towards the upper end of the range.

Crude prices have risen slightly and could continue to move up in the near term. Gold and Silver have broken above their immediate resistance levels of $ 4200 and $ 54 and if the rise sustains, we may look for further bullishness. However, we need to remain cautious till the bullish sentiment is established. Copper has dipped, as it holds below the resistance at $ 5.21. It can test $ 5.1-5.0 before eventually rebounding in the medium term. Natural gas holds strong. Watch price action at $ 4.7, a break above which can be further bullish; else a decline from there can drag it lower to $ 4.4 gradually.

Brent ($ 62.88) and WTI ($ 59.02) have risen slightly. A test of $ 63-64 and $ 60.50 looks possible in the next 1-2 sessions. Thereafter, it has to be seen if the prices can rise further or decline towards $ 60 and $ 58/55, respectively in the medium term.

Gold ($ 4221.90) has risen well above $ 4200 and could have scope to test $ 4400 in the coming 1-2 weeks.

Silver ($ 54.29) has also broken above the crucial resistance near $ 54, and while the rise sustains, it can move up towards $ 56/58. However, we may remain cautious to see if it is a confirmed breakout or whether the price can decline again from here.

Copper ($ 5.1705) has dipped from resistance near $ 5.21 and can extend fall to $ 5.1-5.0 in the near term before again rebounding from there.

Natural Gas ($ 4.64) continues to trade higher. A rise past 4.7, if seen, can take the prices higher to 4.8+. Else, a decline from current levels can take it back towards 4.4-4.2.

GMT 23:30 IST 05:00 JP Unemp
2.6 …Expectation 2.5 …Previous 2.5

GMT 5:45 IST 11:15 CH GDP
…Expectation -0.5 …Previous 0.2

GMT 12:00 IST 17:30 IN GDP
7.2% …Previous 7.8%

GMT 12:00 IST 17:30 IN IIP
3.1 …Previous 4.0

{GMT 10:00 IST 15:30 EU Biz Climate
96.5 …Expectation 97.0 …Previous 96.8 …Actual 97.0