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Published on 28/10/2021 9:20:06 AM | Source: Monarch Networth Capital Ltd

The USD/INR futures pair has support at 75.00 levels - Monarch Networth Capital

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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 75.00 levels whereas resistance is placed at 75.40 levels. The pair is expected to trade firm above 75.40 levels up to 75.60 and 75.75 levels.

* The EUR/INR futures pair has support at 87.20 levels whereas resistance is placed at 87.60 levels. The pair is expected to trade range bound until either side level is breached.

* The GBP/INR futures pair has support at 103.00 levels whereas resistance is placed at 103.60 levels. The pair is expected to trade range bound until either side level is breached.

* The JPY/INR future pair has support at 66.00 levels whereas resistance is placed at 66.40 levels. The pair is expected to trade weak below 66.00 levels up to 65.80 and 65.65 levels.

CHART OF THE DAY

 

Strategy: Intraday

* USDINR pair traded with positive bias and managed to sustain above upward sloping trend line in the last trading session.

* The pair is likely to trade with positive bias and any pullback near immediate support of 75.00 level should be taken as buying opportunity targeting 75.40 – 75.60 levels on lower side

* For Intraday session, it has support at 75.00 – 74.80 levels whereas resistance is placed at 75.40 – 75.60 levels

 

 

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