Daily Currency Technical Report 14 August,2015 - Emkay Commotrade

By  Paul Ploumis 14 Aug 2015  Last updated at 02:17:36 GMT

USDINR pair moved higher for the 3ra consecutive session of trade. The pair hit an intraday high of 65.23 levels and closed with a gain of 0.53% yesterday. The momentum will continue only if prices sustain above immediate resistance around 65.25 levels

DAILY FX TECHNICAL

USDINR Spot – Daily Chart

USDINR pair moved higher for the 3ra consecutive session of trade. The pair hit an intraday high of 65.23 levels and closed with a gain of 0.53% yesterday. The momentum will continue only if prices sustain above immediate resistance around 65.25 levels. Failure to sustain above this level will see prices retrace lower towards 64.90/64.80 levels. A daily close above 65.25 will be positive for the pair.

EURUSD – Daily Chart

EURIUSD pair retraced lower but prices managed to rebound from its intraday lows at 1.1079 levels yesterday. Until prices hold on above 1.1000 levels intraday dips towards 1.1100-1.1050 areas will find buying support. The pair can move higher towards 1.1280/1.1325 levels over the coming sessions.

GBPUSD –Daily Chart

GBP/USD pair traded around 1.5600 levels yesterday. Sustenance above 1.5600 levels will see prices test its upside resistance areas between 1.5670-1.5690 levels. We reiterate that the pair needs a decisive breakout above 1.5700 to rally towards 1.580511.5900 levels. Areas between 1.547011.5425 levels will act as support on the downside.

USDJPY –Daily Chart

USD/JPY pair managed to rebound towards 124.63 levels but prices couldn't sustain at higher levels yesterday. Failure to break above 124.50 levels decisively will be a sign of weakness and prices can move lower towards 123.751123.50 levels in that case. Sustenance above 124.50 will see prices rebound towards 1251125.20 levels.

Courtesy : Emkay Commotrade