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USDINR

Technical Observations:

* USDINR May fut. has been pierced below the short-term moving average.

* It has been consolidating between 81 to 83 since October 2022.

* Momentum oscillator, Relative Strength Index (RSI) 14 weeks placed slightly above 50, but the direction remains down.

* MACD has been given a negative crossover and heading south.

* USDINR May fut has upward-slopping trendline sup

EURINR

Technical Observations:

* EURINR May fut has previous top resistance at 90.60.

* The pair is forming a bullish sequence of higher tops and bottoms on the weekly chart.

* Momentum oscillator, RSI of 14 weeks heading north and placed near overbought zone.

* MACD line flattening near 1.5 indicates consolidation in the uptrend.

* EURINR May Fut has support in the area of 89.15 to 87.95, and crossing the resistance of 90.60 will pave the way for 94.70.

GBPINR

Technical Observations:

* GBPINR May fut has been trading in the horizontal box 102.50 - 97.50,since Dec.22.

* It has been holding the support of 10 WEMA.

* Momentum oscillator, RSI has been placed above 50.

* MACD has been heading north on the weekly chart.

* Looking at the above technical evidence, GBPINR May fut could head north in the coming weeks. The pair has support at 100 and resistance at 105.70.

JPYINR

Technical Observations:

* JPYINR May fut has been heading north and is about to break the previous bottom of 59.85, coinciding with the 50 WEMA.

* The pair is closed below short-term moving averages.

* Momentum oscillator, Relative strength index of 14 weeks is placed below 50 and heading towards the oversold zone, indicating weakness in the momentum.

* Near-term bias for JPYINR May fut remains bearish, and falling below 59.85 will open 58.38 and 57.02 in the coming weeks.

Dollar

Technical Observations:

* Dollar Index formed Doji Candlestick on the weekly chart, which is a sign of indecisiveness among traders.

* It hassupport at 100.75 and resistance at 105.80.

* MACD is placed below the zero line with a negative histogram indicating a weak trend.

* Dollar Index is likely to trade sideways before falling below 100. The buck is expected to trade between 98 to 104.

EURUSD

Technical Observations:

* EURUSD closed above the previousswing high of 1.10.

* The pair has been placed well above short-term and mediumterm moving averages and forming higher tops and bottoms.

* MACD is placed above the zero line and strengthening.

* We remain bullish on EURUSD and sustainable trade above 1.11 will make a case for 1.15. The support has been shifted to 1.07 from 1.05.

GBPUSD

Technical Observations:

* GBPUSD closed above the horizontal trend line placed at 1.25.

* The pair hasformed higher highs and lows

* Momentum oscillator and indicators on the weekly chart look bullish.

* Near-term view is bullish for GBPUSD with higher side resistance at 1.31 and support at 1.20.

USDJPY

Technical Observations:

* USDJPY hasimmediate resistance at 138 and supports at 133.

* The short-term moving average is placed above the mediumterm moving average.

* Momentum oscillators and indicators showing signs of bullishness.

* We believe USDJPY to trade higher with resistance at 138 and 142.

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