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USDINR

The RBI policy was inline with the general expectation. The central bank kept the rate unchanged. The USDINR pair traded in a tight range and hovered around the 82.60 mark through out the session. The RSI plotted on the daily chart can be seen getting flattish near the reference line, indicating lack of momentum in the pair. As of now the pair is sandwiched between 20 and the 50 day moving average. In the sessions to come we might see the pair find resistance near the 83.00-83.10 zone. On the downside the 82.40 is a very crucial level to watch for, if the pair breaches below this level, we might see a move towards the 82.20

EUR/INR

The Dollar index tanking gave the Euro a bit of boost and pushed the EURUSD pair higher above the 1.07 mark. The EURINR pair, since the past 4 sessions has been trading in a range between 88.20 and 88.90. On Wednesday, the pair bounced off the 88.20 zone and headed higher towards 88.90 in today’s session. The RSI plotted on the daily chart can be seen forming a bullish hinge near the overbought level, indicating increasing bullish momentum in the pair. In the sessions to come, the price action around the 89.20 will be crucial to watch for, if the pair manages to breach above the 89.20 zone, we might see the pair head higher towards 89.80-90.00 On the downside we expect the support to be placed near the 88.20.

JPY/INR

The USDJPY pair hovering around the 140.00 mark has forced the JPYINR pair in a range. Thew JPYINR pair since the past 8 sessions has been trading in a range between 59.70-59.10 zone. The RSI plotted on the daily chart can be seen flattening around the 40 mark, indicating lack of momentum in the pair. In the sessions to come we might see the pair find resistance near the 59.70-60.00 zone. On the downside the important support is placed near the 59.20-59.00 zone.

GBP/INR

The dollar tanking during the day, kept the pound supported. On Thursday, the GBPINR pair opened on a flattish note and then moved in a 20 paisa range. Looking at the price action, we see that the pair formed a Doji like candle pattern, which suggests indecisiveness in the pair. During the day, the pair faced rejection near between 103.00-103.10 zone. So in the sessions to come, we might see this level act as a crucial resistance level. If the pair manages to breach above this level we might see it head higher towards the 103.70 zone. On the downside we might see the supports placed near the 102.50 zone is expected to act as a support

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