CURRENCY MARKET ANALYSIS - February 21, 2024

USD/INR: The USD/INR currency pair concluded the recent trading session at 82.98, reflecting a bearish sentiment. Momentum indicators suggest a downward trajectory, with the daily chart displaying a black candle closing below the previous session, indicating negative sentiment. The nearest intraday support rests at the 82.95 level; sustained trading below this mark may reinforce a negative trend today. Immediate intraday resistance is noted at the 83.02 level.

Intraday Levels: Support: 82.95, 82.90, 82.85 Resistance: 83.00, 83.04, 83.07 (15-Minute Charts)

Positional Trading: Support: 82.90-82.70 Resistance: 83.10-83.35

GBP/INR: The GBP/INR currency pair concluded the preceding trading session at 104.52 with a negative bias. Momentum indicators signal a downward trend, while the daily chart presents a small black candle closing inside the previous candle, indicating possible consolidation. On the higher side, the pair has intraday resistance at 104.70. Immediate intraday support is noted at the 104.45 level. A move below this level may lead to a further downtrend today.

Intraday Levels: Support: 104.45, 104.20, 104.00 Resistance: 104.70, 104.90, 105.10 (15-Minute Charts)

Positional Trading: Support: 104.00-103.00 Resistance: 105-106

EUR/INR: The EUR/INR currency pair concluded the prior trading session at 89.63, exhibiting a bullish bias. Despite momentum indicators signaling a downward trend, the daily chart reveals a white candle closing above the previous day's close, indicating positive sentiment. Should the pair remain above the 89.60 level, the positive trend can be expected to continue.

Intraday Levels: Support: 89.60, 89.50, 89.40 Resistance: 89.70, 89.80, 89.90 (15-Minute Charts)

Positional Trading: Support: 89.30-88.50 Resistance: 90.00-91.00

JPY/INR: The JPY/INR pair closed at 55.35, lower than the previous day's close, with the daily chart exhibiting a black candle pattern, closing below the previous day's candle, indicating a downtrend. Despite this, momentum indicators signal a negative trajectory. The nearest intraday support is at 55.33, while resistance is at 55.41. A further downtrend can be expected if the pair moves below 55.33.

Intraday Levels: Support: 55.33, 55.25, 55.15 Resistance: 55.41, 55.50, 55.60 (15-Minute Charts)

Positional Trading: Support: 55.00-54.50 Resistance: 55.75-56.30