USDINR Aug: The pair rose to 45.78 on Thursday on sharp selloff in local shares coupled with selling in European currencies. The market has opened with further gains on Monday today and looking promising to test 46.50 levels in the short term. Currently the market is trading around 46.05 levels with immediate support at 45.95 levels. The intraday resistance is seen at 46.20 levels. We recommend buying on dips towards the support 45.95 levels.
EURINR Aug: Despite lower EURUSD the EURINR has opened higher today tracking gains in USDINR which is up by almost 0.7%. The August EURINR is currently trading around 66.20 levels with immediate support at 66.00 and 65.75 levels. The resistance is seen at 66.35 and then 65.50 levels. We recommend buying on dips to 66.00 levels.
GBPINR Aug: The GBPINR has gained considerably today on gains in USDINR with stable GBPUSD today when compared to India market closing of Thursday. The pair is expected to find resistance at 76.00 levels and sustained trading above the same may push rates higher towards 76.35 levels on intraday. The support is seen at 75.70 levels.
JPYINR Aug: The pair has tested the 60.00 levels today on gains in USDINR along with weak USDJPY pairs. The market is expected to stay firm for the session as well as for the short term as long as any intervention donot take place. The USDJPY has potential to test 72.00 levels without any intervention by the BoJ. Today we expect the JPYINR Aug pair to trade higher with immediate resistance at 60.25. The support is seen at 59.80 levels. We recommend buying on dips to 59.80 levels with stoploss below 59.60 levels.