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Currency Technical Report 15 January 2021
Currency Technical Report 15 January 2021
USDINR
MONTH S3 S2 S1 R1 R2 R3
January 72.6500 72.8500 73.0000 73.55000 73.7000 73.8500
Technical Outlook:
USDINR had a flat open at 73.28 followed by the bearish momentum to mark the day’s low at
73.05 with closure around the same at 73.13
On the daily chart, the pair has formed a red candle with closure in lower lows and highs thus
continuing with the bearish sentiment
USDINR has given a closed below all the important moving average on the daily chart, thus
supporting the negative bias
USDINR if opens below 73.03, it continue with the bearish momentum towards 72.85 – 72.70 and
one can go short. However, an open above 73.15 will lead the pair to test the highs of 73.35 –
73.50.
The daily strength indicator RSI and momentum oscillator both are heading towards the negative
zone indicating weakness in the pair
1
15 January 2021 CURRENCIES – DAILY TECHNICAL REPORT
GBPINR
MONTH S3 S2 S1 R1 R2 R3
Technical Outlook:
GBPINR had a weak open at 99.95 and did trade in red for rest of the session though with
a restricted momentum followed by a flat red closure at 99.79
On the daily chart, the pair has formed a small red candle with the sideways closure.
The pair’s closure has come below short term moving averages while holding support at
medium term & long term moving averages
In today's session, if GBPINR open below the 99.79, it will witness the bearish momentum
towards 99.60 – 99.40 and one can go short for the same.
The daily strength indicator RSI and momentum oscillator Stochastic both are below their
reference line indicating weakness in the pair.
2
15 January 2021 CURRENCIES – DAILY TECHNICAL REPORT
EURINR
MONTH S3 S2 S1 R1 R2 R3
January 88.7000 88.8500 89.0000 89.5000 89.6500 89.8700
Technical Outlook:
EURINR had a gap down at 89.01 followed by bearish momentum to mark low at 88.81
with closure at 88.93
On the daily chart, EURINR has formed a red candle with closure in lower lows and highs
indicating weakness in the pair
The pair has closed below the short term, medium term moving average and long term
moving average
In today's session, if EURINR breaches the level of 88.88 it will went onto test the lows of
88.70 – 88.50. However, an open above 89.10 can lead the pair to test the highs of 89.25
– 89.50
The daily strength indicator RSI and momentum oscillator stochastic momentum both
have to weaker zone indicating negative bias
3
15 January 2020 CURRENCIES – DAILY TECHNICAL REPORT
JPYINR
MONTH S3 S2 S1 R1 R2 R3
January 69.9000 70.1000 70.3500 70.5000 70.6500 70.8000
Technical Outlook:
JPYINR had a gap down at 70.39 followed by bearish momentum to mark the day’s low at
70.28 followed by closure in red at 70.34
On the daily chart, the pair has formed a flat red candle with closure in lower highs and
lows. The pair is accompanied by a long upper shadow on the candle formation indicating
strong resistance at higher levels
The pair has given closure below all the important moving averages supporting the
negative bias.
JPYINR if opens on a positive note above 70.43, it can retrace the fall towards 70.60 –
70.80. However, an open below 70.32 will lead the pair towards 70.10 – 70 levels
The daily strength indicator RSI and momentum oscillator Stochastic is still in a weak zone
thus indicating further bearish sentiment in the pair
4
15 January 2021 CURRENCIES – DAILY TECHNICAL REPORT
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RESEARCH TEAM
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