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GBPUSD –Daily Chart
GBPINR pair hit an intraday high of 1.5690 levels but the pair couldn't sustain at higher levels and moved lower towards 1.5600 levels again. A decisive breakout above 1.5700 levels open up upside targets of 1.5775/1.5825 levels for the pair. My major correction in the pair is likely only on a break below 1.5450 levels.'
USDJPY –Daily Chart
USD/JPY pair moved higher and prices hit an intraday high of 123.93 mark yesterday. Sustenance above 124 will see prices rebound towards 124.40/124.60 levels again. A break below immediate support around 123 will see prices dip towards 122.50/122 zones Major resistance for the pair is seen at 124.60.
| Currency | Technical Outlook for the day on Indian Pairs |
| USDINR | Aug. USDINR pair recovered from its intraday lows at 64.19 levels and closed at 64.25 levels yesterday. If prices hold on between 64.20-64.10 zones on dips then the counter can rebound towards 64.40/64.50 levels again. A daily close below 64 will be negative for the pair. |
| EURINR | Aug. EURINR pair consolidated around 71 levels yesterday. The pair needs to break above 71.60 to rally towards 72.15/72.30 levels. Dips from current levels should find support around 70.50 levels. Any major correction in the pair is likely only if prices break below 70.40 levels on a closing basis. |
| JPYINR | Aug. JPYINR pair opened with a negative gap and prices moved lower to close at 51.67 levels with a cut of 0.84% yesterday. Failure to break below 51.50 will see prices rebound towards 51.80/51.85 levels again. A daily close below 51.50 will be negative for the pair. |
| GBPINR | GBPINR pair closed with a gain of 0.27% yesterday. Sustenance above 100.50 will see prices rebound further towards 100.90-101 levels. A correction in the pair is likely only on a break below 99.90 levels. |
Courtesy : Emkay Commotrade
Emkay Commotrade Ltd.
7th Floor, The Ruby, Senapati Bapat Marg, Dadar - West, Mumbai - 400028.
India Tel: +91 22 66121212 Fax: +91 22 66121299
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