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USD/INR

The market mood on Tuesday was tilted towards the riskier assets, this pushed the dollar index lower despite the US bold yields moving higher. On the daily chart we can see the USDINR pair form a lower low lower high pattern and move towards the 82.00 zone. On Tuesday after a slightly lower open the pair continues to get hammered and moved lower towards the 82.30 towards the end of the session. The prices have moved below both the 20 and the 50 Day moving average, indicating exhaustion in the bullish trend. The Stochastics plotted on the daily time frame can be seen heading lower, indicating increasing bearish momentum in the pair. In the sessions to come, we expect the pair mot trader with a bearish bias, and head lower towards the 82.00 zone, and eventually towards the 81.80 level. On the upside we will look at 82.50-82.60 to act as a resistance

EUR/INR

The market mood on Tuesday was more tilted towards the riskier assets, this led to some buying interest in the EURO pairs Amid the bright market mood, the EURINR pair managed to open on the positive note and drift higher to test the 89.30 level. On the daily chart we can see the pair EURINR not only found support at the 50 Day SMA, but also managed to bounce off the same. The RSI plotted on the daily chart can be seen moving higher, after a bullish hinge near the reference line indictaing presence of bullish momentum in the pair. In the sessions to come, we might see the pair make a move towards the 89.70 level, if it manages to hold above the 88.70

JPY/INR

The US bold yields becoming very volatile is increasing the volatility in the USDJPY pair. On Tuesday, the 2-year yields made a move above the 4% mark, which led to the USDJPY pair bouncing off the 130.00 level and moving higher. The JPYINR after a positive open, faced rejection near the 63.30 zone and moved lower towards the 63.00 towards the end of the session. The key thing to watch here is that the pair has managed to sustain above the 63.00 on the closing basis, this level continues to be the key level to watch for in the sessions to come. As of now the prices continues to sustain above both the 20 day and the 50 day moving averages, indictaing the presence of bullish trend in the pair. The Stochastics plotted on the daily chart can be seen flattening, indictaing slight exhaustion in the momentum. In the sessions to come the 63.00 level continues to be the crucial level to watch. If the pair manages to sustain above this level, we might see the pair move higher towards the 63.60. if the support level of 63.00 is breached we might see the pair move lower towards 62.80 and 62.50 eventually.

GBP/INR

The risk sentiment of the market tilted towards the riskier assets meant a positive session for the Pound. The GBPUSD pair moved higher above the 1.23 zone. The GBPINR pair after a positive open 101.25 level failed to gather moment, and ended the session with a mild gain. From the price action point of view, the GBPINR has been forming a higher high higher low pattern since the past 2 sessions. The pair continues to sustain above both the 20 and the 50 Day moving averages, indictaing presence of bullishness in the trend. The RSI plotted on the daily chart can be seen moving higher, indicating presence of bullish momentum in the pair. In the sessions to come, the 101.00 mark is expected to act as a support level, if the pair manages to sustain above it, we might see the pair head higher towards the 101.90 and eventually towards 102.00 zone

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