CURRENCY MARKET ANALYSIS - February 26, 2024
USD/INR: The USD/INR currency pair concluded the recent trading session at 82.93, indicating a positive sentiment. Momentum indicators suggest a downward trajectory, with the daily chart displaying a white candle closing above the previous resistance level of 82.90, signaling positive sentiment. Sustained trading above 82.90 may reinforce a positive trend today. Immediate intraday resistance is noted at the 82.95 level.
Intraday Levels: Support: 82.90, 82.87, 82.83 Resistance: 82.95, 83.00, 83.04 (15-Minute Charts)
Positional Trading: Support: 82.90-82.70 Resistance: 83.10-83.35
GBP/INR: The GBP/INR currency pair concluded the preceding trading session at 105.13 with a positive bias. Momentum indicators signal a positive trend, with the daily chart presenting a small white candle closing above the previous resistance at 105, indicating the possibility of further uptrend. On the higher side, the pair has intraday resistance at 105.15. Immediate intraday support is noted at the 105.00 level. A move above 105.15 may lead to a further uptrend today.
Intraday Levels: Support: 105.00, 104.85, 104.70 Resistance: 105.15, 105.30, 105.35 (15-Minute Charts)
Positional Trading: Support: 105.00-104.00 Resistance: 106-107
EUR/INR: The EUR/INR currency pair concluded the prior trading session at 89.82, exhibiting a bullish bias. Momentum indicators signal a positive trend, with the daily chart revealing a white candle closing above the previous day's close, indicating positive sentiment. Should the pair remain above the 89.80 level, a positive trend can be expected to continue.
Intraday Levels: Support: 89.80, 89.70, 89.60 Resistance: 89.90, 90.00, 90.15 (15-Minute Charts)
Positional Trading: Support: 89.30-88.50 Resistance: 90.00-91.00
JPY/INR: The JPY/INR pair closed at 55.09, lower than the previous day's close, with the daily chart exhibiting a black candle pattern, closing below the previous day's candle, indicating a downtrend. Despite this, momentum indicators signal a negative trajectory. The nearest short-term support is at 55.00; further downtrend can be expected if the pair moves below this level.
Intraday Levels: Support: 55.05, 55.00, 54.95 Resistance: 55.10, 55.15, 55.20 (15-Minute Charts)
Positional Trading: Support: 55.00-54.50 Resistance: 55.75-56.30