CURRENCY MARKET ANALYSIS - March 27, 2024

USD/INR: The USD/INR currency pair concluded the recent trading session at 83.15, reflecting a downward trend. Although momentum indicators lean towards a bullish bias, the daily chart shows a black candle closing significantly below the previous day's close, signaling negativity. Intraday support is situated at 83.20, while resistance stands at 83.40. A breach above 83.40 could prompt a pullback rally, whereas a move below 83.20 may extend the downtrend.

Intraday Levels: Support: 83.20, 83.07, 82.90 Resistance: 83.40, 83.60, 83.75 (Based on 15-Minute Charts)

Positional Trading: Support: 83.20-82.90 Resistance: 83.50-83.80

GBP/INR: The GBP/INR currency pair concluded the preceding trading session at 105.47, displaying a positive bias. Despite momentum indicators suggesting a bearish trend, the daily chart shows a small white candle closing above the previous day's close, indicating positive sentiment. The pair encounters intraday resistance at 105.60, a breach of which could sustain the uptrend, while a failure to do so might lead to a slight negative trend.

Intraday Levels: Support: 105.35, 105.15, 104.95 Resistance: 105.60, 105.80, 106.00 (Based on 15-Minute Charts)

Positional Trading: Support: 105.00-104.00 Resistance: 106.00-107.00

EUR/INR: The EUR/INR currency pair concluded the prior trading session at 90.44, indicating a downward inclination. Despite momentum indicators signaling a bullish trend, the daily chart exhibits a black candle closing below the previous day's close, suggesting negativity. Intraday support is identified at 90.33; remaining above this level may prompt a pullback rally, while a breach could extend the downtrend.

Intraday Levels: Support: 90.33, 90.20, 90.00 Resistance: 90.50, 90.67, 90.80 (Based on 15-Minute Charts)

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

JPY/INR: The JPY/INR pair closed at 55.14, lower than the previous day's close, with the daily chart exhibiting a Doji candle pattern indicating negativity. Additionally, momentum indicators signal negative sentiment. Short-term support is identified at 55.10; a breach below this level could lead to a further downtrend.

Intraday Levels: Support: 55.06, 54.95, 54.85 Resistance: 55.25, 55.36, 55.50 (Based on 15-Minute Charts)

Positional Trading: Support: 55.10-54.50 Resistance: 55.75-56.50