CURRENCY MARKET ANALYSIS - DECEMBER 28, 2023

This report provides a comprehensive market analysis for December 28, 2023, focusing on major currency pairs and utilizing closing data from December 27, 2023.

USD/INR: In the recent trading session, the USD/INR currency pair concluded on a positive note at 83.36. Momentum indicators suggest a neutral trend, and the daily chart displays a white candle, closing above the previous day's close. The pair faces intraday resistance at 83.37 levels; surpassing this level may extend the positive trend today.

Intraday Levels: Support: 83.31, 83.26, 83.22 Resistance: 83.37, 83.42, 83.47 (15-Minute Charts)

Positional Trading: Support: 83.25-83.00 Resistance: 83.45-83.75

GBP/INR: The GBP/INR currency pair concluded the preceding trading session positively at 106.04. Momentum indicators suggest a positive trend, with the daily chart displaying a white candle pattern closing above the previous day's close. Intraday resistance is observed at 106.12; surpassing this level may lead to further upside movement today.

Intraday Levels: Support: 105.90, 105.75, 105.55 Resistance: 106.12, 106.30, 106.50 (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 92.15, 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 has short-term support at the 91.65 level; remaining above this level may lead to further upside movement. The next short-term resistance remains at 92.40 levels.

Intraday Levels: Support: 92.00, 91.80, 91.60 Resistance: 92.20, 92.40, 92.60 (15-Minute Charts)

Positional Trading: Support: 91.65-90.45 Resistance: 92.40-93.45

JPY/INR: Closing the prior trading session at 58.49, 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; remaining below this level may result in a continuation of the negative trend.

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