CURRENCY MARKET ANALYSIS - March 13, 2024

USD/INR: The USD/INR currency pair concluded the recent trading session at 82.82, indicating a sideways trend. Momentum indicators suggest a negative bias, while the daily chart displays a white candle closing inside the previous candle, signaling potential consolidation. Intraday resistance is observed at 82.85, and a sustained move above this level could trigger a further uptrend; otherwise, consolidation may persist below this mark.

Intraday Levels: Support - 82.77, 82.70, 82.63 Resistance - 82.85, 82.92, 82.98 (15-Minute Charts)

Positional Trading: Support - 82.70-82.50 Resistance - 82.90-83.10

GBP/INR: The GBP/INR currency pair concluded the preceding trading session at 105.90 with a negative bias. Momentum indicators signal a positive trend, and the daily chart presents a black candle closing inside the previous day's close, indicating a sideways trend. On the lower side, the pair finds intraday support at 105.80, and a move below this level may sustain the negative trend. The nearest intraday resistance is at 106.00.

Intraday Levels: Support - 105.80, 105.60, 105.40 Resistance - 106.00, 106.15, 106.35 (15-Minute Charts)

Positional Trading: Support - 105.00-104.00 Resistance - 106-107

EUR/INR: The EUR/INR currency pair concluded the prior trading session at 90.55, displaying a positive bias. Momentum indicators signal a positive trend, and the daily chart reveals a black candle closing above the previous day's close, indicating positive sentiment. A continued uptrend can be expected if the pair surpasses the short-term resistance at 91.00; otherwise, profit booking may occur near the resistance level.

Intraday Levels: Support - 90.52, 90.43, 90.34 Resistance - 90.64, 90.70, 90.80 (15-Minute Charts)

Positional Trading: Support - 90.10-89.30 Resistance - 91.00-92.00

JPY/INR: The JPY/INR pair closed at 56.43, lower than the previous day's close, with the daily chart exhibiting a black candle pattern, closing below the previous day's candle and indicating a negative bias. Momentum indicators support this sentiment, with intraday support noted at 56.30. A sustained move below this level could prolong the negative trend.

Intraday Levels: Support - 56.33, 56.20, 56.00 Resistance - 56.50, 56.65, 56.80 (15-Minute Charts)

Positional Trading: Support - 56.30-55.75 Resistance - 57.00-57.70