Daily Currency Technical Report 26 August,2015 - Emkay Commotrade

Published: Aug 27, 2015 10:01

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USDINR pair couldn't sustain at its session highs at 66.76 levels and the pair retraced lower to hit an intraday low of 65.86 levels.

By Paul Ploumis 26 Aug 2015 Last updated at 04:30:03 GMT

USDINR pair couldn't sustain at its session highs at 66.76 levels and the pair retraced lower to hit an intraday low of 65.86 levels The pair closed the session at 66.07 levels with a cut of 0.86% yesterday. Sustenance below 65.80 will lead to further correction in the pair towards 65.60-65.50 zones.

DAILY FX TECHNICAL

USDINR Spot – Daily Chart

EURUSD – Daily Chart

EUR/USD pair retraced lower throughout the previous session. Failure to pullback above 1.1500 will see prices dip further and test support zones between 1.1360-1.1300 levels. Momentum above 1.1500 will see prices rebound towards 1.1600/1.1650 areas again. Major support for the pair is seen at 1.1200 levels.

GBPUSD –Daily Chart

GBP/USD pair retraced lower after hitting an intraday high of 1.5818 levels Sustenance below 1.5700 will see prices correct towards 1.5580 levels. Immediate resistance for the pair is seen around 1.5820 levels. The view for GBP/USD pair will be negative until prices stay below this resistance.

USDJPY –Daily Chart

USD/JPY pair managed to rebound towards 120.40 and recover some of its losses from the previous session. Sustenance above 120 will see prices test resistance between 120.50-121 areas. Dips from higher levels will find support between 118.50-118 zones. The pair can consolidate between 118-121 for few sessions.

Currency	Technical Outlook for the day on Indian Pairs
USDINR	Aug. USDINR couldn't sustain at its session highs at 66.83 levels and the pair retraced lower to hit an intraday low of 65.93 levels. The pair closed the session at 66.10 levels with a cut of 0.97%. Sustenance below 65.90 will lead to further correction in the pair towards 65.60-65.50 zones. The pair will rebound towards 66.60/66/0 areas if prices start to sustain above 66.35 levels.
EURINR	Aug. EURINR pair couldn't sustain at its swing high at 7731 levels during the previous session and the pair closed down at 75.95 with a cut of 0.88% yesterday. Failure to rebound above 76.55 will see prices move lower towards 7550 again. A break below 75.50 will lead to further dip in the counter towards 75/74.60 levels. Resistance is now seen between 77-7730 areas.
JPYINR	Aug. JPYINR pair closed down with a cut of 1% yesterday. Sustenance below 54.70 will see the pair correct towards 54.20/53.80 levels. Areas between 54-53.80 is the major support for the pair. On the higher side resistance is seen between 55.70-56.20 zones.
GBPINR	Aug. GBPINR pair couldn't sustain at its intraday highs at 10535 levels and the pair slipped lower towards 104.16 levels by close yesterday. Sustenance below 104 will see prices correct towards 103/10/60 levels. Areas between 105.25-105/0 will act as resistance for the pair.

Courtesy : Emkay Commotrade

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