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Published on 24/11/2022 11:05:38 AM | Source: Monarch Networth Capital Ltd

The JPY/INR futures pair has support at 57.70 levels - Monarch Networth Capital

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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 81.80 levels whereas resistance is placed at 82.20 levels. The pair is expected to find resistance at higher level and trade weak below 81.80 level up to 81.60 and 81.40 levels

* The EUR/INR futures pair has support at 84.30 levels whereas resistance is placed at 84.80 levels. The pair is expected to find support at lower level and trade firm above 84.80 level up to 85.00 and 85.20 levels.

* The GBP/INR futures pair has support at 97.50 levels whereas resistance is placed at 98.00 levels. The pair is expected to find support at lower level and trade firm above 98.00 level up to 98.20 and 98.40 levels.

* The JPY/INR futures pair has support at 57.70 levels whereas resistance is placed at 58.10 levels. The pair is expected to find support at lower level and trade firm above 58.10 level up to 58.30 and 58.50 levels.

CHART OF THE DAY

 

Strategy: Intraday

* GBPINR pair traded with positive bias and managed to closed above upward slopping support trend line in the last trading session

* The pair is likely to trade with positive bias and any pullback near immediate support of 97.50 level should be taken as buying opportunity targeting 98.00 – 98.20 levels on higher side

* For Intraday session, it has support at 97.50 – 97.30 levels whereas resistance is placed at 98.00 – 98.20 levels

 

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