Currency Market Analysis - November 29, 2023

Welcome to our detailed market analysis report for November 29, 2023. This report offers a thorough technical evaluation of major currency pairs based on the closing data from November 28, 2023.

USD/INR: In the preceding trading session, the USD/INR currency pair concluded at 83.37, reflecting a decrease from the previous day's close. Momentum indicators suggest a neutral trend. The daily chart reveals a black candle, closing just below the previous day's close. On the higher side, the pair faces short-term resistance at the 83.40 level. A breach above this level may turn the short-term trend positive; otherwise, the pair may consolidate below this level for a few days.

Intraday Levels: Support: 83.36, 83.28, 83.22 Resistance: 83.40, 83.45, 83.50 (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 105.22 on a positive note. Momentum indicators suggest a bullish trend, and the daily chart displays a black 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 106.35.

Intraday Levels: Support: 105.10, 104.90, 104.75 Resistance: 105.30, 105.50, 105.70 (15-Minute Charts)

Positional Trading: Support: 105.20-103.50 Resistance: 106.35-108.00

EUR/INR: The EUR/INR currency pair concluded the prior trading session at 91.35, above the previous day's close. Momentum indicators suggest a bullish trend, while the daily chart displays a white candle pattern, closing well above the previous day's close, indicating a positive trend. Intraday support at 91.25 and resistance at 91.40 are pivotal levels. A move above 91.40 may sustain the positive bias, while a negative trend requires a breach below 91.25.

Intraday Levels: Support: 91.25, 91.10, 91.00 Resistance: 91.40, 91.55, 91.70 (15-Minute Charts)

Positional Trading: Support: 90.80-90.00 Resistance: 91.60-92.50

JPY/INR: Closing the previous trading session at 56.50, 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 support at 56.00 is crucial; if the pair remains above this level, further upside movement can be expected. The nearest short-term resistance is at 57.00 levels.

Intraday Levels: Support: 56.42, 56.32, 56.20 Resistance: 56.53, 56.65, 56.75 (15-Minute Charts)

Positional Trading: Support: 56.00-55.35 Resistance: 57.00-57.70