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USD/INR

The USDINR pair gapped down and broke below the 82.00 mark towards the end of the session. Since the past 5 sessions the pair had been holding the support of 82.00 mark. The RSI plotted on the daily chart can be seen moving lower towards the oversold zone, indicating presence of bearish momentum in the pair. In the sessions to come, the price action around the 82.20-82.30 will be crucial to watch, if we see a break above this level we might see it head higher towards the 82.50. On the downside we might see the support come in near the 81.80 zone.

EUR/INR

The EURINR opened on a flattish note and moved below the 92.00 mark towards the end of the trading session. On the daily chart we can see that the pair has been forming a lower low lower high pattern ever since the pair tested a high of 92.54. The RSI plotted on the daily chart can be seen forming a bearish hinge near the overbought level, indicating increasing bearish momentum in the pair. Going by the price action the pair is expected to face resistance around the 92.00-92.15 zone. On the downside we might see the supports placed near the 91.70 mark, if the pair breaches below the 91.70 we might see it head lower towards the 91.50 mark.

JPY/INR

The USDJPY has been inching higher, and this has been putting some pressure on the JPYINR pair. On Thursday the pair opened on a positive note and then drifted lower throughout the session. Looking at the price action the pair seems to be forming an inside candle. The RSI plotted on the daily chart can be seen forming a bearish hinge near the overbought zone, indicating increasing bearish momentum in the pair. Technically, the pair is expected to face resistance near the 59.30 zone. On the downside the immediate support is placed near the 58.60 followed by 58.30 are expected to act as a support level.

GBP/INR

The softer UK inflation came in softer than the analysts were estimating, this reduced the bets of a large rate hike in the coming policy and the GBP pair across witness major hammering. After a gap down open the pair witnessed selling after the CPI data and tested a low of about 106.10. The RSI plotted on the daily can be seen moving lower, hinting towards increasing bearish momentum in the pair. Technically, the pair is expected to face rejection near the 107.00 mark in the sessions to come. On the downside the 106.00 mark is the key level to watch for, if we see a break below this level we might see it head lower towards the 105.50 and 105.30 zone.

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