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DAILY FX INSIGHTS
Vinod Maloo | vinod.maloo@emkayglobal.com | 022-6624-2404
USDINR-Spot- Daily Chart
USDINR Spot are having resistance at 61.30-61.35 as mentioned on Friday and are coming down. Prices should not move past
61.45 which is channel line resistance to remain weak else prices can again test 61.90-61.95 levels in coming days.
Prices are expected to have intraday support at 61.10 and if sustain below this then can extend fall towards 60.90. On higher side
prices have intraday resistance 61.35 should trade lower.
October 13, 2014
1
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Insights
EURUSD- Daily Chart
Euro prices fell on Friday as per our expectation and buying interest also emerged at lower levels as mentioned. Prices gained
today in the early session. Prices are expected to remain in the range of 1.2580 to 1.2790 with a positive bias.
Prices are expected to have strong support at 1.2580 and as far as prices trade above this will try to move higher. On higher side
prices need to clear 1.2790 to give further upside else prices are expected to remain in the range of 1.2580 to 1.2790 for the day.
October 13, 2014
2
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Insights
GBPUSD- Daily Chart
GBPUSD prices also fell as per our expectation and as mentioned were weaker than EURUSD pair. Prices still have stiff trend line
resistance at 1.6200 and a day close above this level will clear further upside else prices can remain in the range of 1.6200 to 1.6000
with negative bias.
Prices are expected to have intraday resistance at 1.6140 and crucial resistance at 1.6200. On lower side prices have support at
1.6080 and crucial support at 1.6000. Prices can remain sideways to down for the day. A close above 1.6200 will confirm further
upside.
October 13, 2014
3
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Insights
USDJPY- Daily Chart
USDJPY prices though gave intraday upside move from 107.6 to 108.10 but could not clear 108.2 and came down and close below
107.7. Prices now have crucial support at 106.5 and if holds then should bounce back.
Today prices are expected to have intraday support at 106.8-106.9 around and can bounce back from these levels . Prices on
higher side have intraday resistance at 107.6 and if move past this then can move higher towards 108.1. Prices should not fall below
106.5 to maintain corrective outlook for the day.
October 13, 2014
4
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Insights
Currency
Technical Outlook for the day on Indian Pairs
USDINR
October USDINR prices are expected to have resistance at 61.60-61.65 and prices can face resistance at this level
and on lower side price have support at 61.30 and prices are expected to remain in this range. Prices can turn weak
below 61.30 on lower side.
EURINR
EURINR October prices are expected to have support at 77.70-77.5 and on higher side prices have resistance at
78.20 and can remain in this range. Prices are expected to remain positive till trades above 77.70 levels. On higher
side prices can give fresh breakout above 78.20 and can move higher towards 78.50.
JPYINR
JPYINR October prices are expected to face resistance 57.60-57.65 and profit taking can be seen there. Prices on
lower side can have support at 57.05-57.10 and can again bounce back. Prices should not move past 57.80 else
prices can move further higher.
GBPINR
GBPINR October prices are expected to have crucial resistance at 99.35 and as far as prices trade below this then
can trade sideways to lower towards 98.80 and 98.60. Prices should not move above 99.35 for the day.
October 13, 2014
5
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Corporate FX Desk
Mithun Maity
AVP
mithun.maity@emkayglobal.com
022-6624-2401
Vikash Bairoliya
Sr. Manager
vikash.bairoliya@emkayglobal.com
022-6612-1263
Vinod Maloo
Senior Research Analyst
vinod.maloo@emkayglobal.com
022-6624-2404
Amrish Singh
Manager
amrish.singh@emkayglobal.com
022-6624-2436
Emkay Global Financial Services Limited
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