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FXDailyDose – November 29, 2013

November 29, 2013 in FX Daily Dose

FX Daily Dose

Currency pair

Near-term Outlook

Comments – Overall Outlook

USD/JPY

bullish USD/JPY crossed the target of 102.52 which we had indicated yesterday and touched 102.61 before losing some momentum and slightly retreating to 102.11. The current sideways action should find support at 101.93. In case that support breaks then some more consolidation may come towards the support zone of 101.15 to 101.43. Overall the remains bullish and in case of a break over 102.61 the pair should target , first 102.88 resistance and then possibly the recent peak of 103.73.

EUR/USD

bullish The outlook for EUR/USD stays bullish but resistance is expected to continue for some time at 1.3620. First level of support is expected at 1.3580 and if this support holds and a break over 1.3620 takes place then the pair should target 1.3680/1.3688 resistance. In case the support at 1.3580 fails then some more downward consolidation would be expected first towards 1.3555 to 1.3568 support zone. Any break below 1.3555 will make the short-term outlook neutral but the overall outlook will stay bullish as long as EUR/USD stays above 1.3490.

USD/CAD

bullish USD/CAD’s price action is indicating a strong psychological resistance of 1.0600 level. The effort to break over that failed just a couple of pips above this resistance. If this resistance continues and a break below 1.0571 support takes place then some more downward consolidation towards the next support zone of 1.0520 to 1.0531 will be expected. Overall outlook for USD/CAD stays mildly bullish for further gains towards 1.0657 to 1.0673 resistance zone but a cautious approach is required as the pair is in a historical resistance zone. The quote from the past updates which stands good today also is: “During August 2010 the pair had faced a strong resistance at 1.0673 and from there it had fallen strongly first to 0.9445 and then to 0.9406. The next peak was at 1.0657 during October 2011 and that too had proven to be a very strong resistance. The pair had some bumpy ride after that before falling to 0.9633. The next resistance was faced at 1.0609 during July 2013.”

CAD/JPY

bullish CAD/JPY went further up to touch 96.83 and found some resistance before recovering to 96.70. A little caution is required as we have mentioning in past two updates that the resistance at 96.86 is critical. The outlook stays bullish and we expect a break over 96.86 now. With break over 96.86 further upward gains should come towards 97.11 first and then possibly 97.48 to 97.66 resistance zone of September 19th and July 24th respectively. This is not expected today but any decisive break over 97.66 should bring further gains to target 98.60. On the down side the first support is expected at 96.13 and even a break of that should find a strong support at 95.90. In case a break below 95.90 take place then the short-term outlook will become neutral but overall sentiments will be bullish as long as the price action stays above 95.00.

GBP/USD

bullish Yesterday we had indicated that GBP/USD should now target the resistance of 1.6381. The resistance was faced 7 pips below that at 1.6374. We stay bullish for GBP/USD and if the support at 1.6255 holds then a break over 1.6381 should target 1.6500 ranges. However the resistance near 1.6381 may prove to be critical and caution is required. Overall as long as the price stays above 1.6138, the outlook will stay bullish, however, if the resistance mentioned above continues to hold then deeper consolidations and even a reversal cannot be ignored.

EUR/GBP

Bearish EUR/GBP went to 0.8344 before finding some resistance. Our outlook stays same as what we had mentioned yesterday and we will quote that again: The overall outlook had been bearish but now the short-term outlook, which had turned to neutral, has also become bearish. However we shall wait for a break below 0.8316/0.8300 support zone as a confirmation for further fall. Any decisive break below 0.8300 should take EUR/GBP towards 0.8225 to 0.8240 support zone or more. On the upside resistance is now expected at 0.8390. Any break above that will turn the short-term outlook to neutral once again.

EUR/AUD

bullish EUR/AUD went further up to 1.5031 as we had indicated yesterday. The bullish sentiments are clearly in picture but our immediate outlook stays neutral. As we had mentioned yesterday that any attempt to sustain over 1.5000 have been falling since June 2010. The first attempt had failed in June 2010 at 1.5015 and after the pair had gone into a downtrend to go as low as 1.1605. The second attempt had failed at 1.4994 and the third at 1.5031. However any decisive break over 1.05031 should open the doors for 1.5220/1.5255 resistance. On the downside first level of support will be expected at 1.4843 but any break of that should bring further consolidation towards 1.4709 to 1.04715 support zone.

USD/INR

Neutral USD/INR is moving in a very narrow sideways range for past 6 days. There is no change in our view about USD/INR and our outlook stays same as what we have been mentioning for past 2 days. To repeat the same: “Resistance is expected below 63.02 and with that some deeper moves may come, however as long as USD/INR remains between the support of 61.71 and resistance of 63.02, our outlook stays neutral. In fact even a break below 61.71 will be expected to come up against a very strong support at 61.50. As we have been mentioning that USD/INR is stuck between the psychological levels of 60.00 and 65.00 after failing to test 70.00. Note: Within next 6 months we expect a break below 60.00 to test 58.74/58.80 level.”

Check previous entries of FxDailyDose.

You may also check the daily and weekly analysis for 8 currency pairs on the following pages:

Daily Analysis:

  1. EUR/USD daily analysis
  2. USD/JPY daily analysis
  3. GBP/USD daily analysis
  4. USD/CHF daily analysis
  5. AUD/USD daily analysis
  6. EUR/JPY daily analysis
  7. GBP/JPY daily analysis
  8. AUD/JPY daily analysis

Weekly Forex outlook

  1. EUR/USD outlook
  2. USD/JPY outlook
  3. GBP/USD outlook
  4. USD/CHF outlook
  5. AUD/USD outlook
  6. EUR/JPY outlook
  7. GBP/JPY outlook
  8. AUD/JPY outlook

FXDailyDose – November 28, 2013

November 28, 2013 in FX Daily Dose

FX Daily Dose

Currency pair

Near-term Outlook

Comments – Overall Outlook

USD/JPY

bullish Yesterday we had indicated a move towards 102.30 to 102.50 resistance. USD/JPY has gone as high as 102.27 before finding some resistance but recovering again to 102.23. We still expect some more gains. If the pair breaks over 102.30 then it should target 102.48/102.52 range. This range had caused a strong resistance on May 28th and 29th and hence a caution will be required there. In case there is a decisive break over 102.52 then USD/JPY should target, first 102.88 resistance and then possibly the recent peak of 103.73.

EUR/USD

bullish Our outlooks for EUR/USD stays same as what we had mentioned in yesterday’s FXDailyDose. The pair had already touched 1.3613 and we, now, expect it to target 1.3680/1.3688 resistance. On the downside the first support is now expected at 1.3559. Any break of that may bring further consolidation towards the support range of 1.3518 to 1.3521 before a recovery from there. Overall outlook will stay bullish as long as EUR/USD stays above 1.3490.

USD/CAD

Neutral USD/CAD had broken over the 1.0583/1.0585 resistance to go as high as 1.0603 before losing some momentum. There is no change in our outlook from what we have been indicating for past couple of days. The overall outlook is mildly bullish but considering the fact that the pair is near some very strong resistance zone, a strong caution is required. The first support is now expected in the range of 1.0531 to 1.0550. With this support USD/CAD should target the strong resistance of 1.0609 first and maybe 1.0640 next. We will repeat what we have been indicating in the previous updates as ” During August 2010 the pair had faced a strong resistance at 1.0673 and from there it had fallen strongly first to 0.9445 and then to 0.9406. The next peak was at 1.0657 during October 2011 and that too had proven to be a very strong resistance. The pair had some bumpy ride after that before falling to 0.9633. The next resistance was faced at 1.0609 during July 2013.”

CAD/JPY

bullish CAD/JPY touched 96.68 and found some resistance. The pair again recovered strongly to 96.67. We expect some more upward moves but as we had mentioned yesterday that a strong resistance may come near 96.86. The current price action is quite close to that resistance and our views remain unchanged. We will quote from yesterday’s update – ” we wish to mention that the current price action is near a strong resistance zone and caution is required for any long position. Even though the overall outlook is mildly bullish but resistance is expected near 96.86 and even if there is a break above 96.86, a strong resistance should come at 97.11. On the downside any decisive break below the recent 95.90 may cause further consolidation towards 95.42. However as long as the price action stays above 95.00, the overall outlook will remain on positive side.”

GBP/USD

bullish GBP/USD broke over the resistance trend line which has been in place for over 4 years. It clearly indicates strong bullish sentiments and further upward moves are strongly expected. Till now the pair has touched the peak of 1.6346 and now the focus is 1.6381 resistance and with any break of that towards the psychological resistance of 1.6500 ranges. On the downside we expect support to hold in the range of 1.6220 to 1.6240. Any break below that may bring some more consolidation but as long as the price stays above 1.6138, the outlook will stay bullish.

EUR/GBP

Bearish EUR/GBP fell strongly to 0.8320. The overall outlook had been bearish but now the short-term outlook, which had turned to neutral, has also become bearish. However we shall wait for a break below 0.8316/0.8300 support zone as a confirmation for further fall. Any decisive break below 0.8300 should take EUR/GBP towards 0.8225 to 0.8240 support zone or more. On the upside resistance is now expected at 0.8390. Any break above that will turn the short-term outlook to neutral once again.

EUR/AUD

bullish Yesterday we had indicated the possibilities of a move towards 1.0460 and then possibly towards 1.5020/1.5030. EUR/AUD moved that way to go as high as 1.0490 before losing some momentum. Our outlook remains unchanged from yesterday i.e. further gains towards 1.5020/1.5030 should take place, however considering the psychological resistance of the approaching 1.5000 level we need to be cautious as any attempt to sustain over this level have been falling since June 2010. The first attempt had failed in June 2010 at 1.5015 and after the pair had gone into a downtrend to go as low as 1.1605. The second attempt had failed at 1.4994 and the third at 1.5031. However any decisive break over 1.05031 should open the doors for 1.5220/1.5255 resistance.

USD/INR

Neutral There is no change in our view about USD/INR and our outlook stays same as what we have been mentioning for past 2 days. To repeat the same: “Resistance is expected below 63.02 and with that some deeper moves may come, however as long as USD/INR remains between the support of 61.71 and resistance of 63.02, our outlook stays neutral. In fact even a break below 61.71 will be expected to come up against a very strong support at 61.50. As we have been mentioning that USD/INR is stuck between the psychological levels of 60.00 and 65.00 after failing to test 70.00. Note: Within next 6 months we expect a break below 60.00 to test 58.74/58.80 level.”

Check previous entries of FxDailyDose.

You may also check the daily and weekly analysis for 8 currency pairs on the following pages:

Daily Analysis:

  1. EUR/USD daily analysis
  2. USD/JPY daily analysis
  3. GBP/USD daily analysis
  4. USD/CHF daily analysis
  5. AUD/USD daily analysis
  6. EUR/JPY daily analysis
  7. GBP/JPY daily analysis
  8. AUD/JPY daily analysis

Weekly Forex outlook

  1. EUR/USD outlook
  2. USD/JPY outlook
  3. GBP/USD outlook
  4. USD/CHF outlook
  5. AUD/USD outlook
  6. EUR/JPY outlook
  7. GBP/JPY outlook
  8. AUD/JPY outlook

FXDailyDose – November 27, 2013

November 27, 2013 in FX Daily Dose

FX Daily Dose

Currency pair

Near-term Outlook

Comments – Overall Outlook

USD/JPY

bullish For past 2 days we have been mentioning that support for USD/JPY should hold in the range of 101.10 to 101.35. The first dip had found support at 101.33 and the second at 101.15. With the support holding well inside 101.00 ranges, our outlook stays exactly what it has been for past 2 days. Though initially we stay neutral but the overall outlook stays bullish and with support in the indicated range we expect further gains towards 102.30 to 102.50. On the upside the next critical resistance is 101.74 and a break over that will support the above mentioned view. On the other hand any break below 101.10 should bring further consolidation towards 100.40/100.50 and a jump from there.

EUR/USD

bullish EUR/USD’s break over 1.3580 resistance confirms the bullish sentiments. As we had mentioned in yesterday’s update, the focus will now be for further gains towards 1.3680/1.3688 resistance. On the downside the first support will be expected in the range of 1.3518 to 1.3521 and a break below this will start making the immediate outlook slightly neutral but in such case also a strong support should hold at 1.3399. In case a break below 1.3399 takes place then the focus will turn back towards downside, first towards 1.3345 support and then possibly for a retest of 1.3294.

USD/CAD

Neutral USD/CAD lost momentum after touching 1.0583. The pair has fallen into a volatile sideways mode between 1.0514 and 1.0583. The short-term outlook is neutral but the price action is indicating that 1.0500 is now acting as psychological support. As long as this support holds, the overall outlook stays mildly bullish. However if a break of 1.0514 support takes place though a support at 1.0500 is expected but such a move will increase the possibilities of a break of this psychological support. In such case USD/CAD should target the minor support at 1.0485 first and then possibly 1.0436. A cautious approach is required for any trading position because the current price action is near a very strong resistance zone. On the upside any break over 1.0583/1.0585 resistance should target 1.0609 next. We will again quote what we have been saying for past 2 days: ” In case USD/CAD manages a break over 1.0609 then it should target 1.0640 next. We also wish to mention the historical price action which shows that the pair is in a strong resistance zone. During August 2010 the pair had faced a strong resistance at 1.0673 and from there it had fallen strongly first to 0.9445 and then to 0.9406. The next peak was at 1.0657 during October 2011 and that too had proven to be a very strong resistance. The pair had some bumpy ride after that before falling to 0.9633. The next resistance was faced at 1.0609 during July 2013.”

CAD/JPY

Neutral CAD/JPY has gone into a sideways mode between the previous support of 95.70 and 96.52. As the support is holding well over the psychological level of 95.00, the overall outlook stays positive even though the short term outlook is neutral. While saying this we wish to mention that the current price action is near a strong resistance zone and caution is required for any long position. Even though the overall outlook is mildly bullish but resistance is expected near 96.86 and even if there is a break above 96.86, a strong resistance should come at 97.11. On the downside any decisive break below the recent 95.90 may cause further consolidation towards 95.42. However as long as the price action stays above 95.00, the overall outlook will remain on positive side.

GBP/USD

Neutral Since last week GBP/USD has been finding support well over the psychological 1.6000 level. During past 9 days the closest it has gone to that level was 1.6059. The recent two supports came at 1.6133 and 1.6138 respectively. This indicates the underlying bullish sentiments as the price action is trying to remain close to the resistance of 1.6260 and far from 1.6000. However, we are staying neutral of GBP/USD and will repeat what we had mentioned during the previous update: Only a break over 1.6260 will turn the focus for further upside first towards 1.6381 resistance and with any break of that towards the psychological resistance of 1.6500 ranges. GBP/USD is once again struggling at the resistance trend line which has been in place for past 4 years. Because of this resistance zone we stay neutral even if the sentiments are all bullish. Please do check this GBP/USD alert posted a couple of days back.

EUR/GBP

Neutral For past 2 days we had been mentioning that EUR/GBP should find resistance at 0.8385. There was an effort to break that resistance but the resistance came just 5 pips above that at 0.8390. There is not much change in our outlook and though initially we stay neutral but overall outlook is bearish till resistance holds below 0.8415. With this resistance in place a retest of 0.8300 will be expected. Overall a break below 0.8300 is required to expect further significant weakness towards 0.8225 to 0.8240 support zone or more. On the upside a break of 0.8415 may bring some consolidation towards 0.8460/0.8463 but in tat case also we will expect another fall from there.

EUR/AUD

bullish Yesterday we had indicated the possibilities of a move towards 1.4920 to 1.4960 resistance if support over 1.4645 holds. EUR/AUD moved that way and touched 1.4920. Further gains first towards 1.4960 and then possibly towards 1.5020/1.5030 should take place, however considering the psychological resistance of the approaching 1.5000 level we need to be cautious as any attempt to sustain over this level have been falling since June 2010. The first attempt had failed in June 2010 at 1.5015 and after the pair had gone into a downtrend to go as low as 1.1605. The second attempt had failed at 1.4994 and the third at 1.5031.

USD/INR

Neutral There is no change in our view about USD/INR and our outlook stays same as what we have been mentioning for past 2 days. To repeat the same: “Resistance is expected below 63.02 and with that some deeper moves may come, however as long as USD/INR remains between the support of 61.71 and resistance of 63.02, our outlook stays neutral. In fact even a break below 61.71 will be expected to come up against a very strong support at 61.50. As we have been mentioning that USD/INR is stuck between the psychological levels of 60.00 and 65.00 after failing to test 70.00. Note: Within next 6 months we expect a break below 60.00 to test 58.74/58.80 level.”

Check previous entries of FxDailyDose.

You may also check the daily and weekly analysis for 8 currency pairs on the following pages:

Daily Analysis:

  1. EUR/USD daily analysis
  2. USD/JPY daily analysis
  3. GBP/USD daily analysis
  4. USD/CHF daily analysis
  5. AUD/USD daily analysis
  6. EUR/JPY daily analysis
  7. GBP/JPY daily analysis
  8. AUD/JPY daily analysis

Weekly Forex outlook

  1. EUR/USD outlook
  2. USD/JPY outlook
  3. GBP/USD outlook
  4. USD/CHF outlook
  5. AUD/USD outlook
  6. EUR/JPY outlook
  7. GBP/JPY outlook
  8. AUD/JPY outlook

FXDailyDose – November 13, 2013

November 13, 2013 in FX Daily Dose

FX Daily Dose

Currency pair Near-term Outlook Comments – Overall Outlook
USD/JPY bullish USD/JPY broke over 99.67 resistance and went as high as 99.80 before experiencing the psychological pressure of 100.00. The resistance took it down to 99.42. If support comes in the range of 99.20/99.25 then a retest of 99.80 is expected. A break above 99.80 should bring further gains towards 100.20. Our outlook stays bullish for the near-term based on the bullish signal from daily ichimoku, the break of 200-day moving average and also the break of the 6 month old trend line resistance. Please check the previous updates as well as this USD/JPY chart alert for the details. However if resistance at 99.80 holds and the support of 99.20/99.25 fails then further consolidation towards 98.80 support will be expected.
EUR/USD Neutral For last 2 days we had been mentioning about the possibilities that EUR/USD may have some upward correction towards 1.3438 to 1.3449. The price moved up that way and even broke above this resistance to touch 1.3456 (7 pips more). We stay neutral initially. Further consolidation towards 1.3488 cannot be ruled out but overall outlook stays bearish for the near-term. If resistance near 1.3488 holds and a break below 1.3341 takes place then drop towards 1.3265 support will be expected.
USD/CAD bullish Our outlook for USD/CAD becomes mildly bullish for the short-term. Though the price has still not been able to sustain above the psychological level of 1.0500 but the subsequent highs are getting higher. the first was 1.0497, the next attempt touched 1.0503 and the third 1.0508. We expect further gains towards 1.0540/1.0545 if support at 1.0463 holds. Please note that 1.0463 had proved to be a resistance and then it turned into support two days back. Any break below 1.0463 should find a support and recovery from 1.0440. This mildly bullish outlook will be neutralized if any break below 1.0398 takes place.
CAD/JPY bullish On one hand a double top is in place on weekly chart but on the other hand CAD/JPY has been continuously finding support over 92.17. Four attempts to break below have failed during past four and a half months. However, on the upside, during part one and a half months, the pair has failed 3 times near the 200-day moving average resistance. The current 200-day moving average is at 95.51 which is 72 pips above the current price. Though we stay neutral initially but overall we are mildly bullish. The first resistance expected is at 95.22 and then the 200-day SMA. A break above these resistances should bring further gains towards 96.80. This outlook will start neutralizing if the expected support in the range of 94.23 to 94.41 fails.
GBP/USD Bearish The near-term outlook had turned bearish for GBP/USD, with the recent break of the support after the resistance of 4 year old trend line held firm. Please check the chart for this break at this GBP/USD alert. Some support should come near the recent 1.5854 but below that we will expect further drop towards 1.5740 or more. Intraday resistance is expected below 1.5965.
EUR/GBP Bearish Our overall outlook remains bearish for EUR/GBP but initially we stay neutral. Yesterday we had indicated the possibilities for upward moves towards the resistance zone of 0.8416 to 0.8440. The prices moved that way and then went as high as 0.8463. We expect a resistance at 0.8477 and a fall with that but any failure of that resistance may bring some further upward consolidation. On the downside the first support should come at or above 0.8396.
EUR/AUD Neutral Yesterday we had indicated about the possibilities that EUR/AUD might move upward to 1.4385. The upward move came and the pair even moved as high as 1.4484. the pair has been failing to sustain above the psychological 1.0450 for over 2 months and hence the current price is in a strong resistance zone. overall we expect a break above this resistance soon. Though initially we stay neutral but the neat-term outlook has turned mildly bullish. The bullish outlook will get further confirmation if a break above 1.4560 takes place. Such a break should result into a jump towards 1.4720 or more.
USD/INR Neutral Yesterday we had mentioned resistance is the range of 64.20 to 64.45. The resistance came 3 pips below the range at 64.17. Further upward moves may take place as long as support holds over 63.05. A break below 63.05 would be the first indication of a possible near-term topping and such a move should bring further decline towards 62.30 or more. We are staying neutral for USD/INR. Overall we expect some extended sideways moves between 60.40 and 64.60 in the near future.

Check previous entries of FxDailyDose.

FX Daily Dose – November 12, 2013

November 12, 2013 in FX Daily Dose

FX Daily Dose

Currency pair Near-term Outlook Comments – Overall Outlook
USD/JPY bullish USD/JPY has not yet broken over 99.67 resistance which we have been mentioning for past couple of days. However there is a break of the trend line resistance which has been in place for almost 6 months. Apart from that the medium strength bullish signal from daily Ichimoku cloud and break of 200-day moving average which we had mentioned yesterday, all indicate that some further upward gains can be expected. Still it is better to wait for a break over 99.67. In case this resistance fails then the next resistance will be expected near 100.20.
EUR/USD Neutral Yesterday we had mentioned the possibilities that EUR/USD may have some upward correction towards 1.3438 to 1.3449 resistance. The prices moved up to 1.3416. Our outlook says same as yesterday that if there is no failure of this resistance then further drop towards 1.3265 support is expected. If 200-day moving average support fails and a break below 1.3230 takes place then some further drop towards 1.3230 i.e. 55-week EMA should come. However any break above 1.3450 may take EUR/USD to test 1.3500. We are staying neutral initially but overall outlook is bearish.
USD/CAD Neutral Our outlook for USD/CAD remains same as yesterday. The pair is struggling with the psychological resistance of 1.0500 and is practically stuck between 1.0400 and 1.0400. The recent slight break above 1.0500 had found resistance just 3 pips above and the previous slight break below 1.0400 had found support just 2 pips below it. We stay neutral till a break on either side i.e. above 1.0503 or 1.0398 does not take place. Above 1.0503 USD/CAD will be expected to target 1.0545 and below 1.0398 it should target the support zone of 1.0320 to 1.0360. Possibilities of an upward break are higher if the support near 1.0430 holds.
CAD/JPY bullish On one hand a double top is in place on weekly chart but on the other hand CAD/JPY has been continuously finding support over 92.17. Four attempts to break below have failed during past four and a half months. Today we expect some more gains towards the resistance in the range of 95.45 to 95.60.
GBP/USD Neutral Our outlook for GBP/USD stays same as what we had mentioned in yesterday’s update. We now expect a resistance in the range of 1.6031 to 1.6040. If this resistance holds then any break below 1.5957 should bring further fall towards 1.5905 to 1.5894 support zone. The support at 1.5894 is critical and any break below that should bring deeper consolidations towards 1.5740 or more. Overall till any break above 1.6120 does not take place, we will remain in favor of a deeper consolidation.
EUR/GBP Bearish Our outlook remains bearish for EUR/GBP but initially we expect some more upward consolidation after the pair has broken over 0.8362 resistance. Further upward gains towards the resistance zone of 0.8416 to 0.8440 should take place. Even if this resistance fails, we will expect a deeper fall towards 0.8225 from the resistance below 0.8480.
EUR/AUD Neutral EUR/AUD’s fall after the interest rate decision of ECB was arrested by the dual support of 200-day moving average as well as the psychological support of 1.4000 ranges. however the pair has been failing to sustain above the psychological 1.0450 for over 2 months. This suggests that sooner or later we may seen a deeper consolidation if the support of 1.4000 fails. However today we expect some more gains but a strong resistance near 1.4385.
USD/INR Neutral Our outlook for USD/INR stays same as the pair is continuously facing resistance below the resistance zone we have been mentioning for past three days. The pair has moved up to 63.60 and is now in the resistance zone of 63.57 to 63.65 which we had mentioned 2 days back. Our immediate outlook for USD/INR stays neutral for any further gains till there is no break above 63.65. If this resistance fails then some more gains towards the resistance zone of 64.20 to 64.45 will be expected. The psychological pressure of 65.00 should start there. If the resistance continues then a drop towards 62.70 will be expected. Please also note that 63.97 is the 38.2% retracement of USD/INR’s fall from 69.52 to 60.54 and that makes the current resistance zone even stronger.

Check previous entries of FxDailyDose.