The chart pattern suggests that if USDINR crosses and sustains above 80.15 level - Axis Securities
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USDINR
USDINR opened with an upward gap and remained lackluster within narrow trading range throughout the day. USDINR closed at 80.02 with a loss of 0.03 %. 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 USDINR is moving in a Higher Top and Higher Bottom formation on the daily chart indicating sustained up trend. 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 80.15 level it would witness buying which would lead USDINR towards 80.30-80.45 levels. However if USDINR breaks below 79.90 level it would witness selling which would take USDINR towards 79.75-79.60. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength
USDINR – DAILY CHART
EURINR
EURINR opened with an upward gap and remained in positive terrain throughout the day. EURINR closed at 82.13 with a gain of 0.97 %. On the daily chart EURINR has formed a sizable bullish candle forming higher Highlow compare to previous session indicating positive bias EURINR is moving in a Higher Top and Higher Bottom formation on the hourly chart indicating short term up trend. EURINR is trading below 20 day SMA which is important short term moving average, indicating negative bias in the short to medium term The chart pattern suggests that if EURINR crosses and sustains above 82.20 level it would witness buying which would lead EURINR towards 82.40-82.60 levels. However if EURINR breaks below 81 level it would witness selling which would take EURINR towards 80.80-80.60. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength
EURINR – DAILY CHART
JPYINR
JPYINR opened with an upward gap and remained in positive terrain throughout the day. JPYINR closed at 58.24 with a gain of 0.43 %. On the daily chart JPYINR has formed a sizable bullish candle forming higher Highlow compare to previous session indicating positive bias JPYINR continue to move in past couple of trading session's High-Low range representing lackluster movement. 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 58.30 level it would witness buying which would lead JPYINR towards 58.45-58.60 levels. However if JPYINR breaks below 57.90 level it would witness selling which would take JPYINR towards 57.75-57.55. 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 – DAILY CHART
GBPINR
GBPINR opened with an upward gap and remained in positive terrain throughout the day. GBPINR closed at 96.16 with a gain of 0.3 %. On the daily chart GBPINR has formed a sizable bullish candle forming higher Highlow compare to previous session indicating positive bias GBPINR is moving in a Higher Top and Higher Bottom formation on the hourly chart indicating short term up trend. GBPINR is trading below 20 day SMA's which is important short term moving average, indicating negative bias in the short to medium term The chart pattern suggests that if GBPINR crosses and sustains above 96.30 level it would witness buying which would lead GBPINR towards 96.50-96.70 levels. However if GBPINR breaks below 95.45 level it would witness selling which would take GBPINR towards 95.25-95.05. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength
GBPINR – DAILY CHART
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