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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE

* MUFG targets USD/JPY to 133 in Q2 and as low as 127 in Q4

* PBOC is expected to set the USD/CNY reference rate at 6.8932 – Reuters estimate

* AUD/USD, coiled and it gives us plenty of risk events this week, including the RBA

CHART OF THE DAY

OUTLOOK

USDINR: The USDINR broke all its important support in the previous trading session; however, 81.80 is an immediate support level, and on the upside, 82.40 acts as a resistance. If it moves above 82.40, it can lead some upside momentum towards 82.80, while if it slips below 81.80, it may head towards the 81.50-81.65 zone.

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