CURRENCY MARKET ANALYSIS - February 12, 2024

USD/INR: The USD/INR currency pair closed at 83.07 in the recent trading session, indicating a positive bias. Momentum indicators suggest a negative trajectory, while the daily chart displays a Doji candle closing above the previous session, reflecting positive sentiment. The pair has intraday support at the 83.07 level; if it remains above this level, a slightly positive trend can be expected today. Immediate short-term resistance is identified at 83.20 levels.

Intraday Levels: Support: 83.07, 83.00, 82.95esistance: 83.13, 83.18, 83.22 (15-Minute Charts)

Positional Trading: Support: 83.00-82.75 Resistance: 83.20-83.40

GBP/INR: The GBP/INR currency pair concluded the preceding trading session at 104.73 with a positive bias. Momentum indicators signal a downward trend, as the daily chart displays a Doji candle closing inside the previous candle, suggesting consolidation. Intraday resistance for the pair is identified at the 104.75 level. Sustaining below this level could lead to further downtrend expectations. Immediate intraday support is noted at the 104.50 level.

Intraday Levels: Support: 104.50, 104.25, 104.00 Resistance: 104.75, 104.95, 105.10 (15-Minute Charts)

Positional Trading: Support: 104.00-103.00 Resistance: 105.20-106.35

EUR/INR: The EUR/INR currency pair concluded the prior trading session at 89.55, displaying a positive bias. Momentum indicators signal a downward trend, but the daily chart reveals a small white candle closing above the previous day's close, indicating positive sentiment. Intraday support is observed at 89.55; if the pair remains above this level, a positive trend can be expected today.

Intraday Levels: Support: 89.55, 89.40, 89.20 Resistance: 89.70, 89.90, 90.05 (15-Minute Charts)

Positional Trading: Support: 88.85-88.00 Resistance: 89.75-90.70

JPY/INR: The pair closed at 55.82, lower than the previous day's close, with the daily chart exhibiting a Doji candle pattern, closing below the previous close, indicating a negative trend. Momentum indicators signal a negative trajectory. If the pair remains below 55.85, the downtrend could persist in the coming days.

Intraday Levels: Support: 55.72, 55.60, 55.45 Resistance: 55.85, 56.00, 56.10 (15-Minute Charts)

Positional Trading: Support: 55.25-54.50 Resistance: 56.00-56.80