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Published on 2/08/2021 9:04:38 AM | Source: Monarch Networth Capital Ltd

The GBP/INR futures pair has support at 103.90 levels - Monarch Networth Capital

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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 74.30 levels whereas resistance is placed at 74.80 levels. The pair is expected to range bound until either side level is breached

* The EUR/INR futures pair has support at 88.50 levels whereas resistance is placed at 89.10 levels. The pair is expected to trade firm in intraday trading session

* The GBP/INR futures pair has support at 103.90 levels whereas resistance is placed at 104.40 levels. The pair is expected to find support at lower levels and trade firm above 104.20 level up to 104.40 and 104.60 levels

* The JPY/INR futures pair has support at 67.80 levels whereas resistance is placed at 68.40 levels. The pair is expected to find support at lower levels and trade firm above 68.20 level up to 68.40 and 68.55 levels.

 

CHART OF THE DAY

EURINR (DAILY CHART)

 

Strategy: Intraday

* EURINR pair traded with positive bias and managed to sustain above downward sloping trend line in last trading session

* The pair is likely to trade with positive bias and any pullback near immediate support of 88.70 level should be taken as buying opportunity targeting 89 – 89.10 levels on higher side

* For Intraday session, it has support at 88.50 – 88.40 levels whereas resistance is placed at 89 – 89.10 levels

 

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