Indian Currencies Update : 26.08.2016
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USDINR
The pair opened marginally lower and gradually corrected throughout the session to end with a nominal loss o f 0.16 percent. During the day, pair precisely tested the immediate support near 67 which also coincides with the 61.8% Fibonacci retracement joining 66.8325 to the top of 67.3250 thus possibility of b ounce can’t be ruled out. 66.98 / 66.83 are intraday supp ort whereas 67.11 / 67.22 are the intraday resistance.
GBPINR
The pair opened marginally lower and traded through out the session with a range of its previous day’s rang e thus daily candle formed an inside the candle. daily chart, the price formed a Bullish Divergence which was followed by a negative re versal. The said pattern will be activated if pair closed below 88.38 in that case we will see another round of sell 88.38.
EURINR
For the third consecutive session, pair opened lower and corrected during the first half of the session. During the second half, we saw decent recovery which pared mos t of its early losses and eventually ended with a nominal loss of 0.06 percent. The daily price action formed a Doji pattern indicates indecision.
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USDINR
The pair opened marginally lower and gradually corrected throughout the session to end with a nominal loss o f 0.16 percent. During the day, pair precisely tested the immediate support near 67 which also coincides with the 61.8% Fibonacci retracement joining 66.8325 to the top of 67.3250 thus possibility of b ounce can’t be ruled out. 66.98 / 66.83 are intraday supp ort whereas 67.11 / 67.22 are the intraday resistance.
GBPINR
The pair opened marginally lower and traded through out the session with a range of its previous day’s rang e thus daily candle formed an inside the candle. daily chart, the price formed a Bullish Divergence which was followed by a negative re versal. The said pattern will be activated if pair closed below 88.38 in that case we will see another round of sell 88.38.
EURINR
For the third consecutive session, pair opened lower and corrected during the first half of the session. During the second half, we saw decent recovery which pared mos t of its early losses and eventually ended with a nominal loss of 0.06 percent. The daily price action formed a Doji pattern indicates indecision.