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Technical Observations:

* USDINR Aprilfut has been hovering near 21 DEMA.

* Momentum oscillator, Relative Strength Index of 14 days placed sub 50.

* On a short-term span, it has been trading in a bearish channel with resistance at 82.30 and support at 81.70.

* Short covering has been seen with a rise in price and a fall in open interest and volumes. (Reference table on page 7).

* The bias remains bearish for USDINR April fut as long as it trades below 82.50 while on the downside, 81.70 remainsthe strongestsupport.

USDINR Apr Futures Daily Chart

Technical Observations:

* EURINR April fut has been trading sideways in the week gone after rallying in March. It has been holding the support of 10 DEMA.

* Relative Strength Index of 14 days is placed above 50 and strengthening indicating positive momentum.

* MACD is placed above the zero line and heading higher indicating a bullish trend.

* Long unwinding has been seen as the price, volume and open interest decline. (Reference table on page 7).

* The view remains bullish for EURINR April fut until it breaks the support of 21 DEMA i.e. 89.45. On the higher side, 90.60 remains a short-termhurdle

Technical Observations:

* GBPINR April fut formed a bearish candle following a Doji candle indicating a weak trend. However, it hassupport at 101.50, the 21 DEMA.

* Relative Strength Index of 14 daysis above 50 but weakening.

* MACD has given a negative crossover to the MACD average.

* Long unwinding has been seen as the price and open interest decline. (Reference table on page 7).

* Short-term traders can initiate short sell below 101.50 keeping the stop loss above 102.75.

Technical Observations:

* JPYINR April fut resisted at 10 DEMA, on Friday. It has a downwardslopping trend line resistance at 61.80.

* Relative Strength Index of 14 days oscillating below 50 but gaining strength.

* MACD is placed below a zero line with a negative crossover.

* Long unwinding has been seen as the price and open interest decline. (Reference table on page 7).

* The trend remains bearish as long as it trades below 61.60 while breaking 61 will push the pair towardstheMarch low of 59.85.

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