CURRENCY MARKET ANALYSIS - March 15, 2024
USD/INR: The USD/INR currency pair concluded the recent trading session at 82.88, signaling a negative trend. Momentum indicators suggest a negative bias, with the daily chart displaying a small black candle closing below the previous day's close, indicating a negative sentiment. Resistance is observed at 82.90, and a move above this level could trigger an uptrend; otherwise, consolidation may persist below this mark.
Intraday Levels: Support: 82.86, 82.82, 82.78 Resistance: 82.91, 82.96, 83.00 (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 106.10 with a positive bias. Momentum indicators signal a positive trend, and the daily chart presents a white candle closing above the previous day's candle, indicating a positive trend. Short-term support is found at 106.00, and if the pair remains above this level, the positive trend may sustain. The nearest intraday resistance is at 106.15.
Intraday Levels: Support: 106.02, 105.90, 105.75 Resistance: 106.15, 106.30, 106.45 (15-Minute Charts)
Positional Trading: Support: 106.00-105.00 Resistance: 107-108
EUR/INR: The EUR/INR currency pair concluded the prior trading session at 90.68, displaying a positive bias. Momentum indicators signal a positive trend, and the daily chart reveals a small white candle closing above the previous day's close, indicating positive sentiment. A continued uptrend can be expected if the pair surpasses the intraday resistance at 90.73; otherwise, consolidation below this level may occur.
Intraday Levels: Support: 90.65, 90.55, 90.45 Resistance: 90.75, 90.82, 90.90 (15-Minute Charts)
Positional Trading: Support: 90.10-89.30 Resistance: 91.00-92.00
JPY/INR: The JPY/INR pair closed at 56.32, higher than the previous day's close, with the daily chart exhibiting a Doji candle pattern, closing above the previous day's candle and indicating a positive bias. Momentum indicators signal positive sentiment, with intraday resistance noted at 56.33. A sustained move above this level could prolong the positive trend.
Intraday Levels: Support: 56.22, 56.10, 56.00 Resistance: 56.33, 56.45, 56.57 (15-Minute Charts)
Positional Trading: Support: 56.30-55.75 Resistance: 57.00-57.70