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USD/INR

The Dollar index finally moved in line with the US 10 year bond yields and fell below the 104.00 mark. USDINR pair continued its range bound price action and hovered around the 83.39 mark On the daily chart we can see that the USDINR pair formed a small bodied candle with wicks on either sides, indicating indecisiveness in the pair. The RSI plotted on the daily chart can be seen hovering around the reference line, indicating lack of momentum in the pair. The immediate resistance for the pair is placed around the 83.50. On the downside the immediate support is placed near 83.10-83.00

EUR/INR

With the Dollar index moving lower, the Euro gained traction and moved higher in the second half of the session. After a negative open, the EURINR pair formed a doji like candle pattern. On the daily chart, we can see that the EURINR has been forming a lower low lower high pattern since the past 7 trading sessions. The RSI plotted on the daily chart can be seen moving lower towards the oversold zone, hinting towards increasing bearish momentum in the pair. In the sessions to come, the immediate support is placed near the 89.70-89.50. The immediate resistance is placed near the 90.00-90.30 zone.

JPY/INR

The USDJPY pair witnessed a strong selling and managed to break below the 145.00 mark. This majorly boosted the Yen, and helped it appreciate against the Rupee The JPYINR opened on a positive note and witnessed a strong rally which took to the 58.00 mark. On the daily chart we can see that the pair formed a strong bullish candle, after it broke above the 57.00 mark. The RSI plotted on the daily chart can be seen moving higher towards the overbought zone, indicating increasing bullish momentum in the pair. In the sessions to come we might see the pair find resistance near the 58.00-58.20. On the downside 57.50 could act as a minor support.

GBP/INR

The Dollar index moving lower during the day pushed the Pound higher. In the second half of the session we saw the GBPINR make a strong move towards 105.00 mark. On the daily chart, we can see that the pair formed a bullish candle with a lower wick, hinting towards a possible strong buying interest near 104.60 mark. The RSI plotted on the daily chart can be seen flattening near the 60 mark, hinting towards a temporary halt in the bearish momentum in the pair. In the sessions to come we might see the immediate support come in around 104.60- 104.50 zone. On the upside the immediate resistance is placed near the 105.30-105.50 zone

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