USDINR: In line with expectation, USDINR pair remained positive and it also breached the immediate trend line resistance of 64.93 and surged till 65.23 and finally ended at 65.18. Pair has exactly extended till the immediate swing high. Ahead, a convincing break above 65.25 will provide fresh bullish breakout at towards 65.60 then 65.80 levels. Action: Buy.
EURINR: On Tuesday, EURINR pair opened at 75.32 from there it inched till the high of 75.58, and by the end it slipped slightly lower and ended at 75.45. The pair has almost retested immediate resistance and as the primary trend is still bearish, we expect pair to remain lower and continue to recommend selling on rise. Action: Sell.
GBPINR: On Tuesday, GBPINR pair witnessed sharp bounce and has covered previous week’s gap and settled at 85.76. The pair has inched till the trend channel resistance and ahead this is likely hold as stiff resistance and could provide reversal in the pair from these levels till 85.15 the 85.00 levels in coming sessions. Thus, we recommend selling around 85.80 for above mentioned targets. Action: Sell.
JPYINR: In line with expectation JPYINR pair rebounded sharply during last session and ended at 57.17. Ahead, the pair is likely continuing the rally further till trend line resistance of 57.40. Surpass above that will confirm the bullish break out and thus we recommend buying on minor dips at 57.04 for targets of 57.40 then 57.65. Action: Buy
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