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USDINR

opened on a flat note and witnessed sideways movement in initial half. However later hour profit booking pulled USDINR lower to end in red. USDINR closed at 82.73 with a loss of 0.15 %. On the daily chart USDINR has formed a bearish candle forming lower High-low compared to previous session indicating negative bias Since past couple of weeks USDINR is consolidating within 83.00-80.40 levels indicating short term consolidation. Currently USDINR is sustaining above its 20- and 50-day SMA which support bullish sentiments in near term. The chart pattern suggests that if USDINR crosses and sustains above 83.00 level it would witness buying which would lead USDINR towards 83.11 - 83.21 levels. However, if USDINR breaks below 82.40 level it would witness selling which would take USDINR towards 82.29 - 82.19. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength

EURINR

opened with an upward gap and remained in positive terrain throughout the day. EURINR closed at 88.44 with a gain of 0.32 %. On the daily chart EURINR has formed a small Bullish candle with upper shadow indicating selling pressure as well as resistance at higher levels The EURINR pair seems to be moving between 89.20- 88.30 since the past couple of sessions. EURINR is trading below 20-day SMA's which are important short-term moving average, indicating negative bias in the short term. The chart pattern suggests that if EURINR breaks and sustains below 88.30 level it would witness selling which would lead EURINR towards 88.09 - 87.99 levels. However, if EURINR crosses above 89.00 level it would witness buying which would take EURINR towards 89.21 - 89.31. The daily strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. However, momentum oscillator Stochastic has turned positive from the oversold zone indicating a possible consolidation or a upmove in the near term

JPYINR

 opened with an upward gap and remained in positive terrain throughout the day. JPYINR closed at 61.82 with a gain of 0.58 %. On the daily chart JPYINR has formed a small bullish candle forming higher HighLow formation compared to previous session indicating positive bias. JPYINR is moving in a Higher Top and Higher Bottom formation since the past two sessions, indictaing temporary up move in the pair. 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 62.20 level it would witness buying which would lead JPYINR towards 62.41 - 62.51 levels. However, if JPYINR breaks below 61.50 level it would witness selling which would take JPYINR towards 61.29 - 61.19. The daily strength indicator RSI is moving upwards and above its reference line indicating positive bias. However, momentum oscillator Stochastic has turned negative from the overbought zone indicating a possible consolidation or a down move in the near term

GBPINR

opened with an upward gap and remained in positive terrain throughout the day. GBPINR closed at 99.61 with a gain of 0.68 %. On the daily chart GBPINR has formed a small Bullish candle with upper shadow indicating selling pressure as well as resistance at higher levels GBPINR continues to move in a Higher Top and Higher Bottom formation on the daily chart indicating positive bias. GBPINR is trading below 20- and 50-day SMA's which indicating negative bias in the short term. For the day if GBPINR trade and sustains above 100.10 levels then it may move further upward towards 100.31 - 100.41 levels. On the downside an immediate intraday support is around 99.20 levels. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength

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