Daily Currency Technical Report 24 August,2015 - Emkay Commotrade-Shanghai Metals Market

Daily Currency Technical Report 24 August,2015 - Emkay Commotrade

Industry News 05:50:11PM Aug 24, 2015 Source:SMM

By Paul Ploumis 24 Aug 2015 Last updated at 06:18:47 GMT

DAILY FX TECHNICAL

USDINR Spot – Daily Chart

USDINR pair witnessed a gap up opening and the pair hit a fresh swing high of 65.92 levels. The counter finally closed at 65.84 with a gain of 0.46% during the previous session. The momentum can take prices higher towards 66.25/66.48 levels. Some selling can be seen at higher levels in case of a gap up opening today. Support for the pair is seen around 65.70165.50 levels.

Currency	Technical Outlook for the day on Indian Pairs
USDINR	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.
EURINR	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.
JPYINR	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.
GBPINR	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.

Courtesy : Emkay Commotrade

DAILY FX TECHNICAL

USDINR Spot – Daily Chart

Currency

Technical Outlook for the day on Indian Pairs

USDINR

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.

EURINR

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.

JPYINR

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.

GBPINR

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.