Daily Currency Technical Report september 10 ,2015 - Emkay Commotrade

By  Paul Ploumis 10 Sep 2015  Last updated at 02:34:06 GMT

USDINR pair hit an intraday low of 66.23 but the counter managed to recover and close the previous session at 66.40 levels. Failure to trade above 66.60 will see prices re-test 66.23 or even move lower towards 66.10 levels.

DAILY FX TECHNICAL

USDINR Spot – Daily Chart

 USDINR pair hit an intraday low of 66.23 but the counter managed to recover and close the previous session at 66.40 levels. Failure to trade above 66.60 will see prices re-test 66.23 or even move lower towards 66.10 levels. A daily close above 66.60 will see the pair advance towards 66.86 levels again.

EURUSD – Daily Chart

 EUR/USD pair traded with a negative bias yesterday. We reiterate that failure to break above 1.1250 will see prices drift lower towards 1.1088 or even lower towards 1.1000 levels The pair needs to decisively breakout above 1.1250 to rebound towards 1.1330 levels. Until then the outlook for EUR/USD pair will remain negative.

GBPUSD –Daily Chart

 GBP/USD pair went through a flat session of trade yesterday. The pair needs to sustain above 1.5400 levels for the pullback rally to advance further towards 1.5450/1.5500 levels. Immediate support for the pair is seen around 1.5300 levels A break below this support will see prices retrace towards 1.5200/1.5162 levels.

USDJPY –Daily Chart

USD/JPY pair witnessed upside momentum once prices started to sustain above 120.25 levels. The pair hit an intraday high of 121.20 levels The pullback rally can extend further towards 121.50/121.75 levels over the coming sessions. Dips from higher levels will find support around 120.25-120 levels.

Courtesy : Emkay Commotrade