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USDINR

The Dollar index kept on moving higher courtesy the US 10 year bond yields moving higher after the probability of the US shutdown increased. The USDINR pair was sideways for most of the session. In the last few hours of trading especially after the spot markets closed we did see some strong bids by the speculators, which attempted to push it higher above the 82.40 On the daily chart the pair made a bullish candle, indicating presence of bullishness in the pair. The RSI plotted on the daily chart has formed a bullish crossover with the moving average, indicating increasing bullish momentum in the pair. In the sessions to come, 83.50 is expected to act as a resistance level. On the downside the immediate support is placed near the 83.10-83.00.

EURINR

The rally in the US Dollar has been putting the Euro pairs under a lot of pressure. The EURINR pair was very volatile, towards the end of the session the pair move higher backed by up move in the USDINR pair On the daily chart, the pair formed a small bodied candle, with long lower wick, indicating buying interest near the 88.25 zone. The RSI plotted on the daily chart can be seen hovering around the oversold zone, indicating lack of momentum in the pair On the downside the immediate support is placed near the mark, if the pair breaches below the 88.20 we might see the pair make a move towards the 88.00 zone. On the upside the immediate resistance is placed near the 88.70-89.00

JPYINR

During the day we saw strong verbal intervention by the BoJ authorities, and after the a long time we saw the traders react to the verbal intervention The JPYINR bounced off the 56.30 after the verbal intervention and made a move higher towards the 56.50 zone. Since the past three sessions the pair JPYINR pair has been finding support around the 56.30 zone. The RSI plotted on the daily chart continues to hover around the oversold zone, indicating lack of momentum in the pair. In the sessions to come we might see the pair find resistance near the 56.70 level. On the downside the 56.00 is expected to act as a support.

GBPINR

Strong up move in the US Dollar and the general weakness in the Pound has been putting a lot of pressure on the GBPUSD pair. On the daily chart we can see that the pair formed a small bodied candle, indicating lack of strong momentum in the pair. The RSI plotted on the daily chart can be seen flattening around the oversold zone, indicating lack of bullish momentum in the pair. In the sessions to come we might see the immediate support come in near the 101.50- 101.30, On the upside the immediate resistance is placed near the 102.00-102.30 zone.

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