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.
| Currency | Technical Outlook for the day on Indian Pairs |
| USDINR | Sep. USDINR pair hit an intraday low of 66A7 but the counter managed to recover and close the previous session at 66.67 levels. Failure to trade above 66.90 will see prices re-test 66A7 or even move lower towards 6635 levels. A daily close above 66.90 will see the pair advance towards 6720 levels again. |
| EURINR | Sep. EURINR pair closed down with a cut of 0.31% yesterday. Immediate support for the pair is seen around 73.90 levels. Failure to hold on to this support will see prices move lower towards 73.5017325 levels. Areas between 74.80-75.20 are the resistance zones for the pair. |
| JPYINR | Sep. JPYINR closed with a cut of 0.90'36 yesterday. The correction can extend towards 54.90/54/7 levels over the coming sessions. Rallies will face resistance between 55.55-55.70 zones. A daily close below 54/0 will be negative for the pair. |
| GBPINR | Sep. GBPINR pair retraced lower towards 10231 levels yesterday. A decisive break below 101M0 will see prices correct towards 101.50/10130 levels. Upside momentum is likely only on a break above 103 levels. |
Courtesy : Emkay Commotrade
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