USDINR: For last few sessions the USD INR has been moving in the sideways range and is witnessing strong supports around 64.25. On the higher side the resistance of the downward slanting trend line is around 64.95. Hence pair likely move within this band thus, for the day we recommend buying around 64.30 for upside targets of 64.95. Action: Buy.
EURINR: After last two session of continuous fall the EURINR pair witnessed minor pull back on Friday and ended at 79.12. The immediate supports is at 79.00 break down below that will provide further fall till 78.36 and lower. Thus, we recommend selling on break of 79.00 for above mentioned targets of 78.40. Action: Sell.
GBPINR: After witnessing straight fall for last few sessions GBPINR pair opened with a gap up on Friday by breaching the immediate trend line and surged till the high of 90.17. In the second half it once again slipped lower and finally ended at 89.68 forming inverted Doji candle stick pattern. Pair is currently trading near the key supports of inverse head and shoulder pattern and break down below that will bring the pair into further corrective mode. Thus, we recommend selling break of 89.40 for down side targets of 88.80 and lower. Action: Sell.
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JPYINR: After retesting the channel supports the JPYINR pair is inching higher from the supports. On Friday it opened at 59.15 and finally ended on flat note at 59.17. The pair as given bullish breakout and it is likely to extend till the swing high of 59.50 the 59.80 levels and thus we continue to recommend buying around 59.10 levels for targets of 59.60 and higher for the day. Action: Buy.
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