Daily Currency Technical Report 24 August,2015 - Emkay Commotrade

Aug. USDINR pair witnessed a gap up opening and the pair hit a fresh swing high of 66 levels. The counter finally closed at 65.94 with a gain of 0.46% during the previous session. The momentum can take prices higher towards 66.35/66.50. Some selling can be seen at higher levels in case of a gap up opening today. Support for the pair is seen around 65.70/65.50 levels.

Aug. EURINR pair opened higher and the counter closed at a fresh swing high of 74.36 levels. The pair can now advance towards 75/75.25 levels over the coming sessions. Dips will find support between 74-73.50 zones. Dips and reversals from lower levels should be used to go long by traders.

Aug. JPYINR pair witnessed a gap up opening and the pair closed at 53.80 with a gain of 1.61% yesterday. The momentum can take prices higher towards 54.20/54.40 levels. Dips will find support around 53.50 levels. Traders must look to go long on dips.

Aug. GBPINR pair rallied to hit an intraday high of 103.67 levels but the pair retraced lower to close at 103.35 levels yesterday. Prices can advance towards 104.20 levels over the coming sessions. Sustenance below 103.20 will see prices dip towards 102.75 levels. Any major fall is likely only below 102 levels.