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.
|Currency||Technical Outlook for the day on Indian Pairs|
Aug. USDINR pair hit an intraday high of 65.30 levels and dosed with a gain of 0.54% yesterday. The momentum will continue only if prices sustain above immediate resistance around 65.60 levels. Failure to sustain above this level will see prices retrace lower towards 65.10/65 levels. A daily close above 65.60 will be positive for the pair.
Aug. EURINR pair closed with a gain of 0.28% yesterday. The up move will be intact until prices sustain above 71.50 levels. The pair will move higher towards 73/73.42 levels in that case. Intraday dips will find support around 72.10-71.80 zones.
Aug. JPYINR pair recovered from its intraday lows at 52 levels and closed higher at 52.50 levels. The momentum can take prices higher towards 52.70 levels. Some selling can be seen as prices approach higher levels. Dips will find support around 52.20-52 areas.
Aug. GBPINR pair moved higher throughout the previous session and the pair closed at 102.08 levels with a gain of 0.77% yesterday. Dips from higher levels will find support between 101.40-101.10 zones. The outlook for GBPINR pair will remain positive until prices stay above this support. Prices can test 102.55/102.80 on the higher side.
Courtesy : Emkay Commotrade