[Metal Price] Daily Currency Technical Report 07 August,2015 - Emkay Commotrade

Aug. USDINR closed on a flat note yesterday. Sustenance below 64 will see prices move lower and test 63.85/63.80 levels. Intraday pullback rallies will face resistance between 64.20-634.25 zones. A reversal is likely only once the pair breaks above 64.25 levels again.

Aug. EURINR pair moved higher to hit an intraday high of 70.03 levels but prices couldn't sustain at higher levels and closed lower at 69.80 levels yesterday. Intraday rallies will face selling between 70.15-7030 zones. The pair has to close above these resistance zones for a reversal. A break below 6950 will see prices correct towards 6925/69 levels.

Aug. JPYINR pair can rebound until prices hold on above support around 51.20 levels. Any up move though will find resistance as prices approach 51.60/51.70 areas. Further fall in the pair is likely only on a close below 51.20 levels.

Aug. GBPINR pair sold-off from its intraday highs at 100.08 and closed lower at 99.31 with a cut of 0.59%. Intraday rallies will face resistance between 9935-99/0 zones. The pair can slide lower towards 99/98.80 areas. A close below 98.80 will open downside targets of 9830/98 levels for GBP/INR pair.