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Published on 23/09/2022 9:50:10 AM | Source: Axis Securities Ltd

EURINR opened with a downward gap however buying momentum throughout the session - Axis Securities

Posted in Currency Report| #Currency Tips #Axis Securities Ltd

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USDINR

USDINR opened with an upward gap and remained in positive terrain throughout the day. USDINR closed at 80.92 with a gain of 1.15 %. On the daily chart USDINR has formed a sizable bullish candle forming higher Highlow compare to previous session indicating positive bias USDINR is moving in a Higher Top and Higher Bottom formation on the daily chart indicating sustained up trend. Currently USDINR is sustaining above its 20 and 50 day SMA which support bullish sentiments in near term. For the day if USDINR trade and sustains above 81 levels then it may move further upward towards 81.20-81.40 levels. On the downside an immediate intraday support is around 80.15 levels. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength

EURINR

EURINR opened with a downward gap however buying momentum throughout the session led it to close on strong note.. EURINR closed at 79.83 with a gain of 0.49 %. On the daily chart EURINR has formed a sizable bullish candle forming higher Highlow compare to previous session indicating positive bias EURINR continue to move in past couple of trading session's High-Low range representing lackluster movement. EURINR is trading below 20 and 50 day SMA's which indicating negative bias in the short term The chart pattern suggests that if EURINR breaks and sustains below 78.90 level it would witness selling which would lead EURINR towards 78.70-78.50 levels. Important Resistances for the day are placed at 80.25-80.50. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength

JPYINR

JPYINR opened with a downward gap however buying momentum throughout the session led it to close on positive note.. JPYINR closed at 56.76 with a gain of 2.03 %. On the daily chart JPYINR has formed a sizable bullish candle forming higher Highlow compare to previous session indicating positive bias JPYINR continue to move in past couple of trading session's High-Low range representing lackluster movement. JPYINR is trading below 20 and 50 day SMA's which are important short term moving averages, indicating negative bias in the short to medium term The chart pattern suggests that if JPYINR crosses and sustains above 57.30 level it would witness buying which would lead JPYINR towards 57.50-57.70 levels. However if JPYINR breaks below 56.45 level it would witness selling which would take JPYINR towards 56.30-56.10. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength

GBPINR

GBPINR opened with a downward gap however buying momentum throughout the session led it to close on strong note.. GBPINR closed at 91.42 with a gain of 0.71 %. On the daily chart GBPINR has formed a small bullish candle forming higher High-low compare to previous session indicating positive bias GBPINR continue to move in past couple of trading session's High-Low range representing lackluster movement. GBPINR is trading below 20 and 50 day SMA's which indicating negative bias in the short term The chart pattern suggests that if GBPINR breaks and sustains below 91.25 level it would witness selling which would lead GBPINR towards 91-90.80 levels. Important Resistances for the day are placed at 92.25- 92.45. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength

 

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