By Paul Ploumis 08 Sep 2015 Last updated at 02:58:15 GMT
USDINR pair opened on a positive note and the pair moved higher to hit a fresh swing high of 66.86 levels The closed higher at 66.83 levels with a gain of 0.55% yesterday. Sustenance above 66.65 will see prices move higher towards 67.10/67.25 levels over the coming sessions.
DAILY FX TECHNICAL
USDINR Spot – Daily Chart
USDINR pair opened on a positive note and the pair moved higher to hit a fresh swing high of 66.86 levels The closed higher at 66.83 levels with a gain of 0.55% yesterday. Sustenance above 66.65 will see prices move higher towards 67.10/67.25 levels over the coming sessions. 66.50-66.40 is the major support for the pair on the downside.
EURUSD – Daily Chart
EUR/USD pair consolidated around 1.1150 levels yesterday. Failure to break above 1.1250 levels on rallies will be a sign of weakness for the pair. Prices in that case will eventually move lower towards 1.1020/1.0950 levels. A decisive breakout above 1.1250 is required for a pullback towards 1.1340/1.1365 levels.
GBPUSD –Daily Chart
GBP/USD pair bounced after testing its support zones between 1.5200-1.5169 zones. Sustenance above 1.5300 will see prices rebound further towards 1.5380/1.5430 levels. The downtrend will resume only on a break below 1.5160 levels Until then prices will find support on dips and rebound higher.
USDJPY –Daily Chart
USD/JPY pair can slide lower and test its support between 118.25-118 levels Prices need to sustain above 120.70 to rebound higher towards 121.50/122 levels. A close below 118 will see the pair weaken further towards 117.30/117 levels.
|Currency||Technical Outlook for the day on Indian Pairs|
Sep. USDINR pair closed higher at 67.11 levels with a gain of 0.52% yesterday. Sustenance above 67.20 will see prices move higher towards 67.45/67.70 levels over the coming sessions. 66.50-66.40 is the major support for the pair on the downside. The outlook for the pair will remain positive until this support holds.
Sep. EURINR pair closed higher with a gain of 0.64% yesterday. Sustenance above 75 will see prices rebound further towards 75.50 levels. Further upside is likely only if prices sustain above 75.50. Failure to sustain at higher levels will see prices slide lower towards 74/73.90 levels.
Sep. JPYINR continues to be range bound. The pair will remain in consolidation mode until support at 54.70 levels holds. Upside momentum can take prices higher towards 55.85/56 levels. A break below 54.70 will see prices correct towards 54 levels.
Sep. GBPINR pair managed to rebound higher yesterday. The pair closed at 102A1 with a gain of 0.80%. Sustenance above 102.50 will see prices rally further towards 10104 levels. Intraday dips will find support between 102-101.80 levels. The pair is likely to trade with a positive bias for the upcoming few sessions.
Courtesy : Emkay Commotrade
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