17 February

AUGUST 20,2020
2018 CURRENCIES – DAILY TECHNICAL REPORT

USDINR
MONTH S3 S2 S1 R1 R2 R3
February 70.8000 71.0000 71.2000 71.5000 71.6500 71.8500

 USDINR have had a weak

opening but then went
onto trade in green to
mark the high at 71.47
 On daily chart, the pair
has marked a green
candle but is trading in
lower lows and highs
 If the pair breaches the
levels of 71.35, we may
see a continued bearish
rally
 However, if there is a
breakout of 71.5, bullish
run could be witnessed in
pair towards 71.75

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17 February 2020 CURRENCIES – DAILY TECHNICAL REPORT

GBPINR

MONTH S3 S2 S1 R1 R2 R3

February 92.6000 92.8000 93.0000 93.3500 93.5000 93.7000

 GBPINR have had a gap up

and then remained volatile
within the range of 93.31 –
93
 On daily chart, the pair has
formed a flat candle with
show on either side and is
trading with higher high and
low.
 If the pair breaches the levels
of 93, we may see some profit
taking towards 92.5 – 92.3
 However, if there is a
breakout of 93.25, the pair is
likely to continue its bullish
momentum towards 93.50

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14 February 2020 CURRENCIES – DAILY TECHNICAL REPORT

EURINR
MONTH S3 S2 S1 R1 R2 R3
February 77.1000 77.30000 77.5000 77.8000 78.0000 78.1500

 EURINR had a weak

opening and remained flat
with the range of 77.60 -
77.38
 On daily chart, the pair
has marked a flat green
candle and has closed
with lower lows and highs
 If the pair breaches the
levels of 77.65, we may see
a continued bearish rally
towards 77.50
 However, if there is a
breakout of 77.8, we may
see reversal in the pair
towards 78

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17 February 2020 CURRENCIES – DAILY TECHNICAL REPORT

JPYINR
MONTH S3 S2 S1 R1 R2 R3
February 64.4000 64.6000 64.8000 65.2500 65.4500 65.6500

 JPYINR have had a weak

open and continued the
same marking the low at
65.1225
 However, the later part of
session was followed by
reversal in pair giving close
at 65.10
 On daily chart, the pair has
marked a green candle and
has closed with lower highs
and lows
 If the pair breaches the
levels of 65 , we may see a
bearish rally and one can
short for 64.8/64.65
 However, if there is a
breakout of 65.22, bullish
run could be witnessed in
pair towards 65.5 and one
can go long for the same

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17 February 2020 CURRENCIES – DAILY TECHNICAL REPORT
s

RESEARCH TEAM

Name Designation E-mail

Kunal Shah Head of Research kunal.shah@nirmalbang.com

Devidas Rajadhikary AVP Commodity Research devidas.rajadhikary@nirmalbang.com

Harshal Mehta AVP Commodity Research harshal.mehta@nirmalbang.com

Ravi D’souza Sr. Research Analyst ravi.dsouza@nirmalbang.com

Smit Bhayani Research Associate smit.bhayani@nirmalbang.com

Shrishty Agarwal Research Associate shrishty.agarwal@nirmalbang.com

Riya Singh Currency Research Analyst riya.singh@nirmalbang.com

Disclaimer: This Document has been prepared by N.B. Commodity Research (A Division of Nirmal Bang Commodities Pvt. Ltd).
The information, analysis and estimates contained herein are based on N.B. Commodities Research assessment and have been
obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only. This
document, at best, represents N.B. Commodities Research opinion and is meant for general information only. N.B.
Commodities Research, its directors, officers or employees shall not in any way be responsible for the contents stated herein.
N.B. Commodities Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in
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