USDINR: On Thursday, USDINR pair once again retested the high of 63.93 in the initial hours and later on it slipped lower and ended at 63.76. The pair is witnessing huge buying pressure at lower levels and is managing to keep the pair above the supports of 63.65. So as long as it holds above 63.65 potential looks upside and thus we continue to advise buying around 63.72 levels for upside targets of 64.05 and higher. Action: Buy.
EURINR: In line with expectation EURINR pair slipped lower during yesterday’s session and ended at 76.25. As mentioned the previous report, the pair is likely to come down till the trend line supports of 75.72 levels in coming session and thus we continue to recommend selling around 76.35 for down side targets of 75.75. Action: Sell.
GBPINR: After two sessions of minor gains GBPINR pair tuned lower and almost dipped till the trend line supports of 86.00 and reclaimed marginally to end at 86.12. The pair still trading within the triangle pattern and as long as it holds above the trend line support the upside potential till 86.60 will remain intact. Action: Buy.
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JPYINR: On Thursday, JPYINR pair remained sideways and ended on a subdued note at 57.15. Although the pair penetrated the trend line the prior session, it failed to sustain above during yesterday and ended just below that. Ahead, if the pair penetrates the resistance of 57.25 then we could see further rise till 61.8% retracement level of 57.46. Action: Buy.
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