CURRENCY MARKET ANALYSIS - DECEMBER 22, 2023

We present a detailed market analysis report for December 22, 2023, offering a comprehensive technical evaluation of major currency pairs based on December 21, 2023, closing data.

USD/INR: In the recent trading session, the USD/INR currency pair concluded at 83.26, surpassing the previous day's close. Momentum indicators suggest a negative trend, as observed in the daily chart, showing a white candle closing just above the prior resistance at 83.25. If the pair remains above this level, a positive trend may persist in the coming days; otherwise, a slight negative trend can be anticipated.

Intraday Levels: Support: 83.25, 83.20, 83.15 Resistance: 83.30, 83.35, 83.40 (15-Minute Charts)

Positional Trading: Support: 83.25-83.00 Resistance: 83.45-83.70

GBP/INR: The GBP/INR currency pair concluded the preceding trading session at 105.33 on a positive note. Momentum indicators suggest a bearish trend, with the daily chart displaying a white candle pattern closing above the previous day's close. On the lower side, the pair has intraday support at 105.20. Further positive trends can be expected in the coming days if the pair stays above this level.

Intraday Levels: Support: 105.25, 105.05, 104.85 Resistance: 105.45, 105.65, 105.80 (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 91.31, showing a positive bias. Momentum indicators suggest a neutral trend, with the daily chart displaying a white candle pattern closing above the previous day's close, indicating a positive bias. The pair has intraday support at the 91.25 level, and further uptrend can be expected in the coming days if it remains above this level.

Intraday Levels: Support: 91.25, 91.10, 90.90 Resistance: 91.40, 91.60, 91.80 (15-Minute Charts)

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

JPY/INR: Closing the prior trading session at 58.37, 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 58.40 levels. If the pair moves above this level, the positive bias can continue today as well.

Intraday Levels: Support: 58.00, 57.80, 57.60 Resistance: 58.20, 58.40, 58.60 (15-Minute Charts)

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