Currency Market Analysis - November 30, 2023

Welcome to our comprehensive market analysis report for November 30, 2023. This report provides a detailed technical assessment of major currency pairs based on the closing data from November 29, 2023.

USD/INR: In the previous trading session, the USD/INR currency pair concluded at 83.35, indicating a decrease from the prior day's close. Momentum indicators suggest a neutral trend. The daily chart reveals a Doji candle, closing just below the previous day's close. On the upside, the pair encounters short-term resistance at the 83.40 level. A breach above this level may turn the short-term trend positive; otherwise, a slightly negative trend can be expected.

Intraday Levels: Support: 83.32, 83.28, 83.22 Resistance: 83.36, 83.40, 83.45 (15-Minute Charts)

Positional Trading: Support: 83.15-82.80 Resistance: 83.40-83.60

GBP/INR: The GBP/INR currency pair concluded the previous trading session at 105.64 on a positive note. Momentum indicators suggest a bullish trend, and the daily chart displays a white candle pattern, closing above the previous day's level, indicating a positive bias. The short-term support at 105.20 is crucial for maintaining positive momentum, with the next short-term resistance at 106.25.

Intraday Levels: Support: 105.50, 105.25, 105.00 Resistance: 105.80, 106.00, 106.20 (15-Minute Charts)

Positional Trading: Support: 105.20-103.50 Resistance: 106.25-108.00

EUR/INR: The EUR/INR currency pair concluded the prior trading session at 91.50, above the previous day's close. Momentum indicators suggest a bullish trend, while the daily chart displays a black candle pattern, closing above the previous day's close, indicating a positive trend. The short-term support at 91.35 is crucial; if the pair stays above this level, positive momentum will continue. The next resistance is at 92.30 levels. A move below 91.35 may lead to further downtrend.

Intraday Levels: Support: 91.45, 91.35, 91.20 Resistance: 91.60, 91.72, 91.85 (15-Minute Charts)

Positional Trading: Support: 91.35-90.30 Resistance: 92.30-93.25

JPY/INR: Closing the previous trading session at 56.83, the JPY/INR currency pair displayed a positive trend. The daily chart exhibited a small black candle pattern but closed above the previous day's close, indicating a positive trend. Momentum indicators are signaling a positive trend. Short-term resistance at 57.00 is crucial; if the pair surpasses this level, further upside movement can be expected. Otherwise, it may consolidate below this level for a few days.

Intraday Levels: Support: 56.75, 56.55, 56.35 Resistance: 56.95, 57.10, 57.25 (15-Minute Charts)

Positional Trading: Support: 56.50-55.75 Resistance: 57.00-57.85