USDINR has resistance at 55.90-56 in spot: Emkay

Emkay Commodities Research has come out with its report on USDINR, EURINR, GBPINR, JYPINR, EURUSD, GBPUSD and USDJYP. According to the research firm USDINR spot has resistance near 55.90/56.

USDINR spot: It would most probably fall towards 55.35. Resistance is near 55.90/56.0. It has to rise above 56.35 to hint at the possibility of strengthening further to 57.3. USDINR September: It would most probably fall towards 55.45. Resistance is near 55.98/56.10. It has to rise above 56.35 to hint at the possibility of strengthening further to 57.3. EURINR September: Resistance at 70.60 followed by 70.80 will cap for a fall towards 70.20-70.10 now. Rise above 70.80 will negate this bearish view. GBPINR September: Resistance at 89.0 followed by 89.25 will cap for a fall towards 88.48-88.0 now. Rise above 89.25 will negate this bearish view. JYPINR September: Resistance at 71.43 followed by 71.58 will cap for a fall towards 70.73/70.45 now. Rise above 71.58 will negate this bearish view. EURUSD: Support near 1.2490/1.2400 could hold for a rise towards 1.2700/1.2760. It has to fall below 1.2380 to give up this bullish expectation as such a fall could turn the outlook uncertain. GBPUSD: Support near 1.5890/1.5910 could hold for a rise towards 1.5990/1.6050. It has to fall below 1.5780 to give up this bullish expectation as such a fall could turn the outlook Uncertain. USDJYP: Support near 78.60/78.40 could hold for a rise towards 79.50-79.60. fall below 78.10 could turn view negative for 77.10. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. To read the full report click on the attachment

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