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USDINR

USDINR opened on a flat note and traded with positive bias in narrow range throughout the day. USDINR closed at 82.8125 with a gain of 0.08 %. On the daily chart USDINR has formed a bullish candle however it remained restricted within previous two session's High-Low range indicating absence of strength on either side 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

EURINR opened on a flat note but selling led EURINR downwards to end in red. EURINR closed at 88.28 with a loss of 0.2 %. On the daily chart EURINR has formed a bearish candle however it remained restricted within High-Low range of the past few trading sessions, indicating absence of strength on either side The EURINR pair seems to be moving between 89.20- 88.10 since the past couple of sessions. 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 88.10 level it would witness selling which would lead EURINR towards 87.89 - 87.79 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

JPYINR opened on a negative note however it has witnessed some pullback at lower levels which recovered some earlier losses. JPYINR closed at 61.6 with a loss of 0.32%. On the daily chart JPYINR has formed a bearish candle and remained restricted within previous session's High-Low range indicating absence of direction on either side. JPYINR is moving in a Lower Top and Lower Bottom formation on the hourly chart indicating short term downtrend. 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 62.00 level it would witness buying which would lead JPYINR towards 62.21 - 62.31 levels. However if JPYINR breaks below 61.40 level it would witness selling which would take JPYINR towards 61.19 - 61.09. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias

GBPINR

GBPINR opened on a flat note but buying led GBPINR upwards to end near the high of the day. GBPINR closed at 100.24 with a gain of 0.65 %. On the daily chart GBPINR has formed a sizable bullish candle forming higher HighLow compare to previous session and closed above previous session's high indicating positive bias. 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 100.50 levels then it may move further upward towards 100.71 - 100.81 levels. On the downside an immediate intraday support is around 100.00 levels.. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength

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