Emkay Global Financial Services has come out with its report on currency. According to the research firm, USDINR May Future prices could trade sideways to lower for the day towards 54.20-54.25 levels followed by 54.05 levels in near term.
USDINR spot: Spot USDINR prices are now in corrective bearish move that will put prices under pressure towards 54.00 followed by 53.70 levels, from where we could see some positive sentiment to enter and that will push prices to higher for the short term.
USDINR May: May price could trade sideways to lower for the day towards 54.20-54.25 levels followed by 54.05 levels in near term. By testing 54.00-54.05 levels trend could shift to bullish for the short term.
EURINR May: Overall trend remains weak. However corrective gains could be seen for the day with the price objective of 71.50 levels followed by 71.80 levels. Strong support is eyed at 71.00.
GBPINR May: May contract will extend its two day gains towards 85.00 levels by testing 54.10-54.00 levels down.
JYPINR May: Prices are expected to trade sideways to higher towards 56.00 followed by 56.40 levels in near term as corrective bullish move for the recent declines that could end at 56.40-56.50 levels. However overall trend remains weak.
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