Daily Currency Technical Report 17 August,2015 - Emkay Commotrade-Shanghai Metals Market

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Daily Currency Technical Report 17 August,2015 - Emkay Commotrade

Industry News 03:14:37PM Aug 17, 2015 Source:SMM

By   17 Aug 2015  Last updated at  02:48:33 GMT

DAILY FX TECHNICAL

USDINR Spot – Daily Chart

USDINR pair retraced lower after hitting a fresh swing high of 65.37 levels. The pair closed the previous session at 65 levels. Dips will find support between 64.85-64.75 levels. Until prices hold on to these support zones the counter can rebound towards 65.15/65.25 areas again. The pair can move into sideways consolidation between 64.75 to 65.30 zones for the upcoming few sessions.

CurrencyTechnical Outlook for the day on Indian Pairs
USDINR

Aug. USDINR pair retraced lower after hitting a fresh swing high of 65.47 levels. The pair dosed the previous session at 6513 levels. Dips will find support between 64.90-64.80 levels. Until prices hold on to these support zones the counter can rebound towards 65.35/65 40 areas again. The pair can move into sideways consolidation between 64.80 to 65.40 zones for the upcoming few sessions.

EURINR

Aug. EURINR pair hit an intraday high of 72.98 levels and the counter closed at 72.81 levels. If the momentum persists then the pair can advance further towards 73.42 levels. Dips from higher levels will find support between 72.40/72 zones. Some selling can come in at higher levels as prices approach 73.40 areas.

JPYINR

Aug. JPYINR pair almost hit its resistance at 52.70 levels during the previous session. Fresh upside in the pair is likely on if prices breakout and sustain above 52.70 levels for few sessions. Failure to do so will see prices retrace lower towards 52.20/52 levels again. We expect a range of 52.70-52.20 for the coming session.

GBPINR

Aug. GBPINR pair closed with a marginal loss of 0.27% yesterday. Failure to sustain above 102 levels will see the pair retrace lower towards 101.40-101 zones Any major corrective move in the pair is likely only below 101 levels. Until then prices will consolidate at higher levels. Momentum above 102.30 will take prices higher towards 102.85/103 levels.

Courtesy : Emkay Commotrade

Emkay Commotrade Ltd.
7th Floor, The Ruby, Senapati Bapat Marg, Dadar - West, Mumbai - 400028. 
India Tel: +91 22 66121212 Fax: +91 22 6612129

 

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Daily Currency Technical Report 17 August,2015 - Emkay Commotrade

Industry News 03:14:37PM Aug 17, 2015 Source:SMM

By   17 Aug 2015  Last updated at  02:48:33 GMT

DAILY FX TECHNICAL

USDINR Spot – Daily Chart

USDINR pair retraced lower after hitting a fresh swing high of 65.37 levels. The pair closed the previous session at 65 levels. Dips will find support between 64.85-64.75 levels. Until prices hold on to these support zones the counter can rebound towards 65.15/65.25 areas again. The pair can move into sideways consolidation between 64.75 to 65.30 zones for the upcoming few sessions.

CurrencyTechnical Outlook for the day on Indian Pairs
USDINR

Aug. USDINR pair retraced lower after hitting a fresh swing high of 65.47 levels. The pair dosed the previous session at 6513 levels. Dips will find support between 64.90-64.80 levels. Until prices hold on to these support zones the counter can rebound towards 65.35/65 40 areas again. The pair can move into sideways consolidation between 64.80 to 65.40 zones for the upcoming few sessions.

EURINR

Aug. EURINR pair hit an intraday high of 72.98 levels and the counter closed at 72.81 levels. If the momentum persists then the pair can advance further towards 73.42 levels. Dips from higher levels will find support between 72.40/72 zones. Some selling can come in at higher levels as prices approach 73.40 areas.

JPYINR

Aug. JPYINR pair almost hit its resistance at 52.70 levels during the previous session. Fresh upside in the pair is likely on if prices breakout and sustain above 52.70 levels for few sessions. Failure to do so will see prices retrace lower towards 52.20/52 levels again. We expect a range of 52.70-52.20 for the coming session.

GBPINR

Aug. GBPINR pair closed with a marginal loss of 0.27% yesterday. Failure to sustain above 102 levels will see the pair retrace lower towards 101.40-101 zones Any major corrective move in the pair is likely only below 101 levels. Until then prices will consolidate at higher levels. Momentum above 102.30 will take prices higher towards 102.85/103 levels.

Courtesy : Emkay Commotrade

Emkay Commotrade Ltd.
7th Floor, The Ruby, Senapati Bapat Marg, Dadar - West, Mumbai - 400028. 
India Tel: +91 22 66121212 Fax: +91 22 6612129