3 August, 2023 CURRENCIES – DAILY TECHNICAL REPORT

USDINR
MONTH S3 S2 S1 R1 R2 R3
August 82.3550 82.4525 82.5550 82.7255 82.8250 82.9250

Technical Outlook:
 The USDINR future opened with a gap-up at 82.41 , was followed by a session, which
noticed valuable buying from a lower level, and closed close to the high.
 A long green candle formed for the USDINR price as it approached the significant
resistance zone between 82.7 and 82.85.
 The pair has broken out of its choppy three-day range.
 Positive indication on the daily chart, the momentum indicator RSI trailing between 58-63
level, while the MACD has made a positive crossover below the zero-line.
 We are anticipating USDINR May futures to trade in the range of 82.60–82.78 for today.
 One can buy around 82.65 with a stop loss of 82.52 for the target of 82.75 and 82.85

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3 August, 2023 CURRENCIES – DAILY TECHNICAL REPORT

GBPINR
MONTH S3 S2 S1 R1 R2 R3

August 105.0025 105.2550 105.4075 105.5075 105.6500 105.7525

Technical Outlook:
 GBPINR future witnessed a gap-up opening at 105.48 followed by a session and continued
with minimal buying from lower level, with closure near high.
 The GBPINR price developed green candle where price facing resistance placed at 105.80.
 On the daily chart by the momentum indicator RSI trailing between 48-53 level, MACD
given crossover above zero-line.
 We are anticipating GBPINR May futures to trade in the range of 105.–105.50 for today.

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3 August, 2023 CURRENCIES – DAILY TECHNICAL REPORT

EURINR
MONTH S3 S2 S1 R1 R2 R3
August 90.3550 90.5050 90.6525 90.8050 90.9025 91.0025

Technical Outlook:
 EURINR future witnessed a gap-up opened at 90.61 followed by a session and continued
with minimal buying from lower level and with closure above previous high.
 The EURINR price developed small green candle where price faced resistance placed at
90.93 and maintain gap though out the day.
 On the daily chart by the momentum indicator RSI trailing between 46- 53 level. MACD
given crossover above zero-line.
 We are anticipating EURINR May futures to trade in the range of 90.35– 90.80 for today.

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3 August, 2023 CURRENCIES- DAILY TECHNICAL REPORT

JPYINR
MONTH S3 S2 S1 R1 R2 R3
August 57.8075 57.9075 58.0225 58.2825 58.3825 58.4875

Technical Outlook:
 JPYINR future had a flat opening at 58.01 followed by a session and continued with
minimal buying from lower level and with closure near previous high.
 The JPYINR price developed long green candle where price faced resistance of 10-days
moving average placed at 58.36.
 Negative indication on the daily chart by the momentum indicator RSI trailing between
45- 50 level. Indecisive indication from MACD.
 We are anticipating JPYINR May futures to trade in the range of 57.86– 58.30 for today.

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3 August, 2023 CURRENCIES – DAILY TECHNICAL REPORT
s
June, 2023

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

Utkarsh Dubey Research Associate utkarsh.dubey@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 this connection. This document is not to be considered as an offer to sell or a solicitation to buy
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