CURRENCY MARKET ANALYSIS - DECEMBER 26, 2023

This report provides a comprehensive market analysis for December 26, 2023, focusing on major currency pairs and leveraging closing data from December 22, 2023.

USD/INR: In the recent trading session, the USD/INR currency pair concluded at 83.18, marking a decrease from the previous day's close. Momentum indicators suggest a negative trend, as evidenced by the daily chart displaying a black candle closing below the prior day's close. 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 105.92 on a positive note. Momentum indicators suggest a neutral trend, with the daily chart displaying a white candle pattern closing above the previous day's close. Intraday support is observed at 105.80, and a further positive trend can be expected if the pair remains above this level.

Intraday Levels: Support: 105.80, 105.65, 105.45 Resistance: 106.00, 106.20, 106.40 (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 91.60, reflecting a positive bias. Momentum indicators suggest a positive trend, with the daily chart displaying a white candle pattern closing above the previous day's close, indicating a positive bias. The pair faces short-term resistance at the 91.65 level, and a further uptrend can be anticipated if this level is surpassed.

Intraday Levels: Support: 91.60, 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 58.61, the JPY/INR currency pair displayed a positive trend. The daily chart exhibited a white candle pattern, closing above the previous day's close, indicating a positive bias. Momentum indicators signal a positive trend, with intraday resistance at 58.65 levels. If the pair moves above this level, the positive bias may continue today.

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