The USD/INR futures pair has support at 79.80 levels whereas resistance is placed at 80.20 levels - Monarch Networth Capital
CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 79.80 levels whereas resistance is placed at 80.20 levels. The pair is expected to trade range bound until either side level is breached.
* The EUR/INR futures pair has support at 81.10 levels whereas resistance is placed at 81.60 levels. The pair is expected to find resistance at higher levels and trade weak below 81.10 level up to 80.90 and 80.70 levels.
* The GBP/INR futures pair has support at 95.70 levels whereas resistance is placed at 96.20 levels. The pair is expected to find resistance at higher levels and trade weak below 95.70 level up to 95.50 and 95.30 levels.
* The JPY/INR futures pair has support at 57.80 levels whereas resistance is placed at 58.20 levels. The pair is expected to trade range bound until either side level is breached.
Strategy: Intraday
* GBPINR pair traded with positive bias but managed to closed below downward slopping resistance line in the last trading session
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 96.20 level should be taken as selling opportunity targeting 95.70 – 95.50 levels on lower side
* For Intraday session, it has support at 95.70 – 95.50 levels whereas resistance is placed at 96.20- 96.40 levels
GBPINR (DAILY CHART)
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