DAILY FX TECHNICAL
Navin Nair | [email protected] | 022-6624-2386
USDINR-Spot- Daily Chart
 USDINR pair witnessed a very volatile session yesterday as prices plunged to an intraday low of 61.42 levels but buying at lower
levels saw the pair closing above its crucial support at 62 levels. With yesterday’s move a near term bottom is in place and the pair can
test 62.40/62.50 levels on the upside over the upcoming sessions.

Prices can witness an intraday dip towards support at 61.90-61.85 but buying at lower levels can see prices pulling back to 62
levels. Intraday resistance is seen at 62.25 levels.
January 16, 2015
1
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Technical
EURUSD- Daily Chart
 Euro has slipped to fresh swing lows as forecasted in our previous notes. Lack of fresh buying at lower levels will see the pair
remain under pressure and test 1.1500 on the downside.

The pair can witness an intraday pullback towards 1.1675 levels but fresh selling can be seen at these levels. Any chances of a
strong pullback will occur only if prices sustain above 1.1750 levels.
January 16, 2015
2
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Technical
GBPUSD- Daily Chart
 GBPUSD pair is facing selling pressure at higher levels around 1.5270 levels. Failure to sustain at higher levels will be a bearish
sign as the pair can re-test 1.5100/1.503 levels on the downside. We reiterate that any major reversal in trend will be seen only above
1.5300 levels.

Intraday correction towards 1.5100 levels is likely if prices sustain at lower levels. Pullbacks towards 1.5250 levels will be met with
selling.
January 16, 2015
3
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Technical
USDJPY- Daily Chart
 USDJPY attempted a pullback above 118 but fresh selling dragged the pair lower towards 116.50 levels. The pair has crucial
support at 116 levels. A close below 116 will witness an extended corrective phase in the counter which can see prices correcting
towards 113/112.50 levels.

Sustenance above 117.30 will see prices re-test 117.90 levels. 116.40-116 zone will act as support on the downside.
January 16, 2015
4
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Daily FX Technical
Currency
Technical Outlook for the day on Indian Pairs
USDINR
Jan. USDINR pair has intraday support at 62-61.90 levels. Intraday buying can be seen coming in on dips and
reversals from lower levels which can trigger a pullback rally to 62.20-62.35 levels. Intraday resistance for the day is
seen at 62.45 levels.
EURINR
Jan EURINR prices witnessed some buying at lower levels yesterday. But a near term positive reversal In the counter
can be seen only above 73.60 until then intraday bounce and weakness after pullbacks to 73.20-73.40 can be sold.
Immediate support is seen at 72.40 below which prices can test 72/71.80 levels.
JPYINR
JPYINR January pair bounced sharply after testing support at 52.30 levels. The pair can test 53.90 on the upside.
Intraday dip towards 53-52.90 is likely but prices are likely to pullback from lower levels.
GBPINR
GBPINR January pair will find resistance at 95-95.30 levels. Price can correct back to 94.40-94.25 levels. Fresh
selling can be seen again if prices start trading below 94.25 levels. A close below 94.25 will see the pair re-testing
93.70 levels. A close above 95 will be the first signs of a near term trend reversal.
January 16, 2015
5
EMKAY GLOBAL FINANCIAL SERVICES LIMITED
Corporate FX Desk
Mithun Maity
AVP
[email protected]
022-6624-2401
Vikash Bairoliya
Sr. Manager
[email protected]
022-6612-1263
Navin Nair
Research Analyst
[email protected]
022-6624-2386
Emkay Global Financial Services Limited
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7th Floor, The Ruby, Senapati Bapat Marg, Dadar (W), Mumbai– 400 028. Tel No. 6612 1212. Fax: 6612 1299
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