[Metal Price] Daily Currency Technical Report 30 July,2015 - Emkay Commotrade

Published: Jul 30, 2015 15:48

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GBPINR pair hit an intraday high of 1.5690 levels but the pair couldn't sustain at higher levels and moved lower towards 1.5600 levels again.

By Paul Ploumis 30 Jul 2015 Last updated at 03:27:12 GMT

DAILY FX TECHNICAL

GBPUSD –Daily Chart

GBPINR pair hit an intraday high of 1.5690 levels but the pair couldn't sustain at higher levels and moved lower towards 1.5600 levels again. A decisive breakout above 1.5700 levels open up upside targets of 1.5775/1.5825 levels for the pair. My major correction in the pair is likely only on a break below 1.5450 levels.'

USDJPY –Daily Chart

USD/JPY pair moved higher and prices hit an intraday high of 123.93 mark yesterday. Sustenance above 124 will see prices rebound towards 124.40/124.60 levels again. A break below immediate support around 123 will see prices dip towards 122.50/122 zones Major resistance for the pair is seen at 124.60.

Currency	Technical Outlook for the day on Indian Pairs
USDINR	Aug. USDINR pair recovered from its intraday lows at 64.19 levels and closed at 64.25 levels yesterday. If prices hold on between 64.20-64.10 zones on dips then the counter can rebound towards 64.40/64.50 levels again. A daily close below 64 will be negative for the pair.
EURINR	Aug. EURINR pair consolidated around 71 levels yesterday. The pair needs to break above 71.60 to rally towards 72.15/72.30 levels. Dips from current levels should find support around 70.50 levels. Any major correction in the pair is likely only if prices break below 70.40 levels on a closing basis.
JPYINR	Aug. JPYINR pair opened with a negative gap and prices moved lower to close at 51.67 levels with a cut of 0.84% yesterday. Failure to break below 51.50 will see prices rebound towards 51.80/51.85 levels again. A daily close below 51.50 will be negative for the pair.
GBPINR	GBPINR pair closed with a gain of 0.27% yesterday. Sustenance above 100.50 will see prices rebound further towards 100.90-101 levels. A correction in the pair is likely only on a break below 99.90 levels.

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