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USD/INR

As expected, with the US markets shut the Dollar index remained shut, but the USDINR pair picked up some bids and the headed higher after the a negative open. From a daily candle point of view, the pair formed a green candle after a long lower wick, indicating buying interest near the 81.90 zone. The RSI plotted on the daily chart can be seen flattening around the 40 mark, indicating lack of momentum in the pair. Technically, we expect the pair to face rejection near the 82.15-82.20 level immediately. On the downside we have been seeing strong buying interest near the 81.80 zone. This could act as a support level in the sessions to come

EUR/INR

With the US markets shut and lack of driving force from the EU, the EURINR pair traded in a tight range. From the daily candle point of view, the pair formed an inside candle, indicating lack of momentum in the pair. The EURINR pair formed a small bodied candle, with long upper and lower wicks, indicating indecision among the traders. The RSI plotted on the daily chart, can be seen hovering around the 50 mark, indicating lack of momentum in the pair Technically, in the sessions to come, we expect the pair to face rejection near the 89.50-89.60 zone. On the downside we expect the pair to find support near the 89.10-89.00

JPY/INR

Since the past four sessions the USDJPY pair has been facing rejection near the 145 mark, this seems to be giving hopes to the JPYINR bulls. The JPYINR pair opened on a positive note and headed higher towards the 57.20 zone. From the price action point of view, the JPYINR halted its lower low lower high pattern and is showing signs of a reversal. The RSI plotted on the daily chart, can be seen heading higher, indicating increasing bullish momentum in the pair. Technically, the pair is expected to face resistance near the 57.80 zone. On the downside the immediate support is placed near the 56.80 zone.

GBP/INR

With the US markets shut the GBPINR pair rallied higher and tested a high of 104.30, which was a break away gap. After a flattish open, the GBPINR slowly yet steadily moved higher and printed a high of 104.30. The RSI plotted on the daily chart can be seen forming a bullish hinge near the 50 mark, indicating increasing bullish momentum in the pair. Technically, in the sessions to come we might see the pair find resistance near the 104.50 zone. On the downside the supports are placed near the 103.70 mark, if the pair breaches below the 103.70 mark we might see it head lower towards the 103.50-103.30.

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