The USD/INR futures pair has support at 74.40 levels whereas resistance is placed at 74.80 levels - Monarch Networth Capital Ltd
CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 74.40 levels whereas resistance is placed at 74.80 levels. The pair is expected to find support at lower levels and trade firm above 74.80 level up to 75.00 and 75.20 levels
* The EUR/INR futures pair has support at 84.70 levels whereas resistance is placed at 85.30 levels. The pair is expected to range bound until either side level is breached
* The GBP/INR futures pair has support at 101.40 levels whereas resistance is placed at 101.80 levels. The pair is expected to find resistance at higher levels and trade weak below 101.40 level up to 101.20 and 101.00 levels
* The JPY/INR futures pair has support at 64.60 levels whereas resistance is placed at 65.20 levels. The pair is expected to range bound until either side level is breached
CHART OF THE DAY
Strategy: Intraday
* USDINR pair traded with positive bias and managed to closed above downward trending line in the last trading session
* The pair is likely to trade with positive bias and any pullback near immediate support of 74.40 level should be taken as buying opportunity targeting 74.80 – 75.00 levels on higher side
* For Intraday session, it has support at 74.40 – 74.20 levels whereas resistance is placed at 74.80 – 75.00 levels
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