Daily Currency Technical Report 19 August,2015 - Emkay Commotrade

By Paul Ploumis 19 Aug 2015  Last updated at 03:06:30 GMT

The outlook on USDINR pair will remain positive until prices stay above 64.90 levels Dips from higher levels will find support between 65.10-64.90 zones.

DAILY FX TECHNICAL

USDINR Spot – Daily Chart

The outlook on USDINR pair will remain positive until prices stay above 64.90 levels Dips from higher levels will find support between 65.10-64.90 zones. Sustenance above 65.40 will see prices rally towards 65.60165.80 levels. A corrective move is likely only if prices start to sustain below 64.90 levels.

EURUSD – Daily Chart

EUR/USD pair continued to retrace lower for the 3rd consecutive session of trade. The pair can test its support between 1.0980-1.0950 levels. Sustenance between these support zones will see prices rebound towards 1.1100 levels again.

GBPUSD –Daily Chart

GBP/USD pair attempted a breakout above resistance at 1.5700 levels but selling at higher levels dragged prices lower towards 1.5650 levels again. The pair needs to sustain above 1.5700 for few sessions for prices to rally towards 1.5800/1.5850 levels. Failure to do so will see prices remain range bound between 1.5700 to 1.5450 levels.

USDJPY –Daily Chart

USD/JPY pair continued to be sideways between124 to 124.60. The outlook for JPYUSD pair will remain negative until prices fail to trade above 124.60 levels decisively. Until then prices will eventually move lower towards 124/123.75 levels A decisive move above 124.60 will see prices re-test 125/125.20 levels.

Courtesy : Emkay Commotrade