CURRENCY MARKET ANALYSIS - DECEMBER 27, 2023

This report offers a comprehensive market analysis for December 27, 2023, focusing on major currency pairs and utilizing closing data from December 26, 2023.

USD/INR: In the recent trading session, the USD/INR currency pair concluded flat at 83.18. Momentum indicators suggest a negative trend, and the daily chart displays a Doji candle, indicating uncertainty among market players. The pair has intraday support at 83.15 levels, and if breached, it may continue the downward trend today.

Intraday Levels: Support: 83.15, 83.10, 83.05 Resistance: 83.20, 83.26, 83.30 (15-Minute Charts)

Positional Trading: Support: 83.00-82.70 Resistance: 83.25-83.45

GBP/INR: The GBP/INR currency pair concluded the preceding trading session at 105.57 on a negative note. Momentum indicators suggest a neutral trend, with the daily chart displaying a black candle pattern closing inside the previous day's white candle. Intraday support is observed at 105.45, and if it moves below this level, further downside movement can be expected today.

Intraday Levels: Support: 105.45, 105.30, 105.10 Resistance: 105.65, 105.80, 105.95 (15-Minute Charts)

Positional Trading: Support: 105.20-104.00 Resistance: 106.30-107.40

EUR/INR: The EUR/INR currency pair concluded the prior trading session at 91.58, reflecting a negative bias. Momentum indicators suggest a positive trend, with the daily chart displaying a black candle pattern closing below the previous day's close, indicating a negative bias. The pair faces short-term resistance at the 91.65 level, and a further uptrend can be anticipated if this level is surpassed; otherwise, a slightly negative trend can be expected.

Intraday Levels: Support: 91.55, 91.40, 91.25 Resistance: 91.75, 91.90, 92.05 (15-Minute Charts)

Positional Trading: Support: 90.45-89.50 Resistance: 91.65-92.40

JPY/INR: Closing the prior trading session at 58.52, the JPY/INR currency pair displayed a negative trend. The daily chart exhibited a Doji candle pattern, closing below the previous day's close, indicating a negative bias. Momentum indicators signal a positive trend, with intraday resistance at 58.65 levels. If the pair remains below this level, a negative trend can be expected.

Intraday Levels: Support: 58.50, 58.35, 58.20 Resistance: 58.65, 58.80, 58.95 (15-Minute Charts)

Positional Trading: Support: 58.00-57.25 Resistance: 58.80-59.50