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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 74.50 levels whereas resistance is placed at 74.90 levels. The pair is expected to range bound until either side level is breached

* The EUR/INR futures pair has support at 88.40 levels whereas resistance is placed at 88.80 levels. The pair is expected to range bound until either side level is breached

* The GBP/INR futures pair has support at 103.30 levels whereas resistance is placed at 103.80 levels. The pair is expected to find support at lower levels and trade firm above 103.80 level up to 104.00 and 104.15 levels

* The JPY/INR futures pair has support at 67.60 levels whereas resistance is placed at 68.00 levels. The pair is expected to find resistance at higher levels and trade weak below 67.60 level up to 67.40 and 67.25 levels.

CHART OF THE DAY

GBPINR (DAILY CHART)

Strategy: Intraday

* GBPINR pair took support of upward sloping trend line and settled above the same

* The pair is likely to trade with positive bias and any pullback near immediate support of 103.30 level should be taken as buying opportunity targeting 103.80 – 104.00 levels on higher side

* For Intraday session, it has support at 103.30 – 103.10 levels whereas resistance is placed at 103.80 – 104.00 levels.

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