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DAILY FX TECHNICAL
Vinod Maloo | vinod.maloo@emkayglobal.com | 022-6624-2404
USDINR-Spot- Daily Chart
 USDINR pair bounced back from lower level near 63.00 and now pair have stiff resistance at 63.40 to clear and if unable to clear
this level then can again drift lower towards 63.10-63.15. Only a breakout above 63.40 can take further higher towards 63.55-63.60.

Today pair is expected to have immediate resistance at 63.30 levels and as far as trading below 63.40, can trade sideways to lower
towards 63.10-63.15. Pair can see fresh selling only below 63.10. On higher side, only a breakout above 63.40 can take pair higher
towards 63.55.
December 22, 2014
1
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Technical
EURUSD- Daily Chart
 Euro could not move past channel line resistance on higher side and now again coming down to test lower channel line but this
time pair may even break the channel line support as RSI is supporting the move now. Pair have crucial support at 1.2185 and if settles
below this then fresh selling towards 1.2050 can be seen.

Pair can have Intraday resistance at 1.2250-1.2270 and can travel lower towards 1.2200 and fresh selling can be seen below this
towards 1.2185-1.2187. Pair should not move above 1.2300 to maintain the negative outlook for the day.
December 22, 2014
2
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Technical
GBPUSD- Daily Chart
 GBPUSD pair has could not move past crucial trend line resistance as well as previous top near 1.5800-1.5830 and again came
down. Only a breakout above 1.5800 will confirm upward move towards 1.15950 in coming days else pair can again sink lower towards
1.5550 in coming days.

Today pair have major resistance at 1.5660-1.5680 and as far as pair is trading below 1.5730 pair is expected to travel lower
towards 1.5550 and fresh breakdown can be seen below this towards 1.5400 in coming days.
December 22, 2014
3
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Technical
USDJPY- Daily Chart
 USDJPY pair again moved higher after testing 38.2% Fibonacci retracement level of last rally. Par can again try to test recent highs
near 121.9. On lower side, pair have immediate crucial support at 118.0 and as far as holding this level, can remain positive

Pair have intraday support at 118.80-118.90 and as far as holding above 118.2, can remain positive. On higher side, pair needs to
clear 120.0 for fresh upside towards 121.0 else can again come down.
December 22, 2014
4
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Technical
Currency
Technical Outlook for the day on Indian Pairs
USDINR
December USDINR pair have intraday resistance at 63.50-63.55 and can remain weak till trades below this level. On
lower side pair have intraday support at 63.15-63.20 and fresh selling can be seen only below this else pair can move
in this range. Pair should not move past 63.55 to maintain corrective outlook for the day.
EURINR
EURINR December pair expected to have intraday resistance at 78.10-78.15 and should come down from that level.
Pair should not move past 78.40 to maintain corrective outlook. On lower side pair have support tat 77.50 and fresh
selling can be seen below this towards 77.25.
JPYINR
JPYINR December pair have immediate resistance at 53.25-53.30 and can remain weak till trades below 53.60. On
lower side, pair have support at 52.60-52.65 and expected to remain in this range only
GBPINR
GBPINR December pair have intraday support at 99.00 and can remain positive as far as holding 98.80. On higher
side pair can again face resistance at 99.50 and can again come down. Pair can give breakdown below 98.80 can
travel lower towards 98.50.
December 22, 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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