The Dollar index remained flat and this pushed put the EURUSD pair in a range too - Axis Securities
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USD/INR:
The USDINR pair found resistance around the 83.05 mark and drifted lower for the rest of the session. The price action suggests, consolidation between 82.90 and 83.05. On the daily chart the pair formed a small candle with a long lower wick, indicating buying interest near the 82.95 zone. The RSI on the daily chart can be seen drifting lower, indicating increasing bearish momentum in the pair. Going by the price action we might see the pair 82.90 zone act as a major support. On the upside the immediate resistance is place near the 83.15-83.20 zone.
EUR/INR:
The Dollar index remained flat and this pushed put the EURUSD pair in a range too. The EURINR faced strong rejection near the 89.70 zone and then drifted lower for the rest of the session. On the daily time frame, the pair formed a doji with a long upper wick, indicating rejection near at higher levels. The RSI plotted on the daily chart can moving higher, indicating increasing bullish momentum in the pair. Going by the price action, 89.70 is expected to act as a resistance level. On the downside the support is placed near 89.30
JPY/INR:
JPYINR opened on a negative note and then continued to drift lower below the 56.00 mark. On the daily chart, the pair formed a strong bearish candle. The RSI plotted on the daily chart can be seen moving lower, hinting towards a possible increase in bearish momentum. In the sessions to come we expect 56.20- 56.30 to act as a strong resistance. On the downside the immediate support is now placed near 55.80-55.50 zone.
GBP/INR:
The pound was all over the place, and hovered around the 104.80 mark though out the session. The GBPINR opened on a positive note but failed to break above 105.00 mark. On the daily chart we can see that the pair formed an inside candle. The RSI plotted on the daily time frame can be seen drifting lower, hinting towards increasing bearish momentum. In the sessions to come we might see 104.90-105.00 act as a resistance. On the downside the immediate support is placed near the 104.50.
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