Daily Currency Technical Report september 07 ,2015 - Emkay Commotrade-Shanghai Metals Market

Daily Currency Technical Report september 07 ,2015 - Emkay Commotrade

Industry News 01:16:38PM Sep 07, 2015 Source:SMM

By Paul Ploumis 07 Sep 2015 Last updated at 01:14:13 GMT

USDINR pair moved higher and the counter hit an intraday high of 66.55 levels during the previous session. The pair finally closed at 66.46 levels with a gain of 0.34%. Sustenance above 66.55 will see prices move higher towards recent swing highs of 66.76 levels.

DAILY FX TECHNICAL

USDINR Spot – Daily Chart

Currency	Technical Outlook for the day on Indian Pairs
USDINR	Sep. USDINR moved higher and the counter hit an intraday high of 6619 levels during the previous session. The pair finally closed at 6616 levels with a gain of 0.38%. Sustenance above 66.85 will see prices move higher towards recent swing highs of 67.20 levels. Selling can be seen as prices approach higher levels. Support for on dips is seen between 66.55-66.40 areas.
EURINR	Sep. EURINR pair recovered after a gap down opening. The pair closed higher at 74 35 levels yesterday. Prices need to sustain above 74 50 to rebound towards 75 levels. Failure to do so will see prices dip towards 73.65/73.50 levels. Major resistance is seen at 75.50 levels.
JPYINR	Sep. JPYINR pair opened on a positive note and the pair moved higher towards 56.14 levels during the previous session. Sustenance above 56.25 will see the pair advance towards next major resistance areas placed between 56.45-56.60 zones. 55.50 is the immediate support on the downside.
GBPINR	Sep. GBPINR pair recovered from its session lows and closed higher at 101.60 levels. Failure to sustain above 102.15 will see prices correct further towards next major support levels between 101-100.80 levels. A reversal is likely only on a decisive move above 102.15 levels.

Courtesy : Emkay Commotrade

DAILY FX TECHNICAL

USDINR Spot – Daily Chart

Currency

Technical Outlook for the day on Indian Pairs

USDINR

Sep. USDINR moved higher and the counter hit an intraday high of 6619 levels during the previous session. The pair finally closed at 6616 levels with a gain of 0.38%. Sustenance above 66.85 will see prices move higher towards recent swing highs of 67.20 levels. Selling can be seen as prices approach higher levels. Support for on dips is seen between 66.55-66.40 areas.

EURINR

Sep. EURINR pair recovered after a gap down opening. The pair closed higher at 74 35 levels yesterday. Prices need to sustain above 74 50 to rebound towards 75 levels. Failure to do so will see prices dip towards 73.65/73.50 levels. Major resistance is seen at 75.50 levels.

JPYINR

Sep. JPYINR pair opened on a positive note and the pair moved higher towards 56.14 levels during the previous session. Sustenance above 56.25 will see the pair advance towards next major resistance areas placed between 56.45-56.60 zones. 55.50 is the immediate support on the downside.

GBPINR

Sep. GBPINR pair recovered from its session lows and closed higher at 101.60 levels. Failure to sustain above 102.15 will see prices correct further towards next major support levels between 101-100.80 levels. A reversal is likely only on a decisive move above 102.15 levels.