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USD/INR

The Dollar index moving lower, put some pressure on the USDINR pair. On the daily chart the pair formed a small bodied candle with wicks on either sides, indicating indecisiveness in the trend. RSI plotted on the daily chart can be seen flattening, indicating lack of momentum in the pair. Going by the price action, we might see the 83.05-83.10 act as a resistance zone. On the Downside the immediate support is place near the 82.90-82.80 zone.

EUR/INR

The Dollar index moving lower did give the Euro some boost. The EURINR pair moved higher towards 90.15. On the daily time frame, we can see that EURINR pair has been consolidating between 89.20-90.20. The RSI plotted on the daily chart, can be seen moving higher, indicating increasing bullish momentum in the pair. Going by the price action, 90.20-90.40 is expected to act as a resistance level. On the downside the support is placed near 89.80-89.60.

JPY/INR

On Thursday morning the BoJ members sounded hawkish and mentioned and hinted towards a possible rate hike, and this pushed the JPYINR pair higher. The pair opened on a positive note and then consolidated for the rest of the session. The RSI plotted on the daily chart can be seen moving higher, indicating increasing bullish momentum in the pair. In the sessions to come we expect 55.80- 56.00 to act as a strong resistance. On the downside the immediate support is now placed near 55.50-55.30 zone.

GBP/INR

The Dollar index moving lower pushed the Pound lower. The GBPINR opened on positive note and then consolidated for the rest of the session between 105.20 and 105.00 thought-out the session. On the daily chart the pair formed a doji like candle pattern, indicating indecisiveness in the pair. The RSI plotted on the daily chart can be seen moving higher, suggesting increasing bullish momentum in the pair. In the sessions to come we might see 105.20-105.50 act as a resistance. On the downside the immediate support is placed near the 104.90-104.70 mark.

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